Advanced Solid-state Electrolyte Technology (ASET), a Korean startup developing innovative solid-state and hybrid electrolyte membrane technology, has successfully raised $2.15 million (3 billion KRW) in a Pre-Series A bridge funding round.

The funding round welcomed new investors Industrial Bank of Korea and Pathfinder H, alongside follow-on investments from existing backers Ascendo Ventures and Tap Angel Partners. This latest investment follows ASET’s Pre-Series A funding of $2.94 million (4.1 billion KRW) secured in October 2024, bringing the company’s total funding to over $5 million.

The new capital will enable ASET to advance its technology commercialization and transition to mass production capabilities for its breakthrough electrolyte membrane solutions.

ASET specializes in developing solid-state and hybrid electrolyte membrane technology that simultaneously improves fire safety and energy density in batteries. The company’s unique approach allows for hybrid use with liquid electrolytes already in mass production for lithium-ion batteries, providing compatibility advantages from semi-solid-state batteries through to fully solid-state battery applications.

This innovative concept addresses one of the most significant challenges in solid-state battery development: compatibility with existing production lines. ASET’s differentiated next-generation separator products can be applied across the entire battery lifecycle, from semi-solid-state to complete solid-state battery systems.

In addition to private investment, ASET was selected for the Ministry of Trade, Industry and Energy’s “Climate Tech Energy Ultra-Gap Technology Development Project” this year, securing $716,000 (1 billion KRW) in government funding. This recognition represents not only research and development capital but also policy-level government support that will accelerate technology commercialization.

The company has established a phased mass production roadmap targeting production capacity expansion of over 10 tons by 2026, over 100 tons by 2027, over 500 tons by 2028, and over 1,000 tons by 2029. Through this scaling strategy, ASET aims to lead global mass production capabilities in solid-state electrolyte membranes and establish itself as a key supplier during the next-generation battery transition period.

By the end of 2025, ASET plans to move beyond technology validation to submit A-samples in roll product form to major next-generation secondary battery manufacturers both domestically and internationally. This milestone represents a significant step beyond research achievements, providing actual mass-production-ready prototypes to global customers for direct commercial viability verification.

Through this initiative, ASET intends to expand its cooperation network with global automotive and battery manufacturers, establishing a foundation for future pilot line and mass production contracts. The company’s structural advantage of compatibility with liquid electrolytes is expected to enable broad market penetration from early semi-solid-state markets through to fully solid-state battery markets.

“This investment reflects recognition of our company’s technological capabilities and growth potential,” said Park Seok-jung, CEO of ASET. “Based on the trust of both new and existing investors and our selection for government projects, we will accelerate the commercialization of solid-state electrolyte membranes.”

He added, “Our solid-state electrolyte membranes offer significant market scalability through compatibility with existing liquid electrolytes, enabling broad application from semi-solid-state to solid-state batteries. With the joining of CTO Choo Hyun-seok, we will steadily pursue our global market entry and large-scale mass production roadmap, and begin full-scale cooperation with major global battery manufacturers through A-sample submissions.”