ACT-ion Battery Technologies, a cathode materials manufacturer for secondary batteries based in Dallas, Texas, announced on the 12th that it has secured a Pre-Series A investment of approximately $7.5 million (KRW 10 billion).

The round was led by BASF Venture Capital from Germany, with participation from South Korea’s Mirae Asset Capital and LG Technology Ventures, as well as Arosa Capital Management and Hunt Energy Enterprises from the United States. With this investment, ACT-ion plans to scale up and validate its continuous cathode material manufacturing process.  

ACT-ion was spun off from Hunt Energy Enterprises and is led by CEO Jinmyung Lim. The company has developed a continuous manufacturing process that overcomes the challenges of traditional cathode production, enabling the high-speed, high-efficiency manufacturing of various high-performance single-crystal cathode materials.

It has received multiple grants from the U.S. Department of Energy and was recognized as an R&D 100 2024 Winner, highlighting its next-generation cathode materials and manufacturing technologies. Additionally, ACT-ion is actively expanding its global presence, having been selected for the Global Industry Technology Cooperation Project by South Korea’s Ministry of Trade, Industry, and Energy in collaboration with Hanwha Momentum.  

Through its continuous manufacturing process, ACT-ion has successfully produced and tested widely used cathode materials such as lithium iron phosphate (LFP) and high-nickel nickel-cobalt-manganese (NCM). The company is also advancing next-generation cathode materials, including lithium iron manganese phosphate (LFMP), mid-nickel, and high-manganese cathodes, manufacturing them in single-crystal form while collaborating with potential partners worldwide.  

Mirae Asset Capital, one of the investors in ACT-ion, stated, “ACT-ion’s cathode manufacturing technology enables the production of high-performance cathode materials at a lower cost while also being more environmentally friendly than conventional methods. We believe this technology is essential for overcoming the current ‘EV chasm.’ As a result, we see ACT-ion as a key player in the cathode material market, and we are excited to support their journey through this investment.”  

Jinmyung Lim, CEO of ACT-ion, expressed his gratitude, saying, “We are delighted to have successfully secured Pre-Series A funding despite the challenging investment environment. I sincerely appreciate the confidence our investors have placed in ACT-ion’s technology and growth potential. This investment will accelerate the commercialization of our innovative cathode manufacturing solution, strengthening our presence in EVs, drones, power tools, and various other battery applications.”