Funding Obtained by Ultion Technologies for Expanding Key American Battery Production Infrastructure
Ultion Technologies, a U.S. company specializing in advanced lithium iron phosphate (LFP) battery cell technology and energy storage systems, is expanding its domestic production capacity following a successful Series A funding round. Torus led the investment, with additional participation from mission-aligned investors and Nevada state-sponsored venture capital program Battle Born Venture.
The funding will enable Ultion to scale its production capacity more than fivefold at its Nevada facility, growing its workforce from about 15 to over 100 employees within two years. This move establishes Ultion as the only American company producing LFP battery cells at commercial scale.
Ultion's batteries serve diverse markets, including heavy machinery, drones, medical devices, and public infrastructure like bus stop lighting. The company benefits from Nevada's dry climate, strategic proximity to lithium resources, major ports, and strong local government support, which are critical advantages for high-quality battery manufacturing requiring dry-room environments.
The growth potential for Ultion is strong due to increasing demand for domestically sourced batteries amid rising interest in energy storage and electric vehicles (EVs). Ultion's focus on domestic production positions it uniquely in the U.S. market, complementing larger industry moves by companies like GM/Ultium Cells and LG Energy Solution upgrading U.S. facilities for LFP production. While Ultium Cells plans production scaling by late 2027, Ultion is already operational at commercial scale and ramping quickly.
Nate Walkingshaw, co-founder and CEO of Torus, and Dr. Johnnie Stoker, CEO and founder of Ultion Technologies, believe that every battery imported from outside the U.S. is a missed opportunity for American jobs and a vulnerability in energy security. With over 90% of battery processing occurring outside the U.S., this investment aims to address America's critical battery supply chain vulnerability, as over 70% of global battery production is currently concentrated in Asia.
The investment in Ultion Technologies is a strategic move to build a vertically integrated battery manufacturing ecosystem in the U.S., creating high-quality American manufacturing jobs. Dr. Stoker and Ultion's core founding team have over two decades of experience in building batteries together across multiple continents, having been involved in building six of the earliest lithium battery factories internationally in countries such as China, Finland, Ireland, and the United States.
With Wood Mackenzie projecting more than $1.2 trillion in global battery energy storage investment by 2034 to support the rise of grid-forming renewables, Ultion Technologies offers a solution by providing domestically manufactured, commercially proven LFP batteries. This reduces dependence on foreign imports and improves supply chain resilience, ensuring that the vast majority of that economic value stays within the U.S.
In conclusion, Ultion Technologies is at a critical growth phase with significant investment fueling a rapid scale-up of domestic LFP battery manufacturing capacity. The company is targeting broad end-use sectors and responding to a strategic push to diversify and localize U.S. battery supply chains, creating high-quality American manufacturing jobs in the process.
- The series A funding round secured by Ultion Technologies, led by Torus and other mission-aligned investors, will allow the company to expand into the finance sector, as the funds are earmarked for scaling production capacity in the energy sector, specifically in the technology realm, with a focus on LFP battery cell manufacturing.
- Ultion Technologies, as a result of its focus on domestic energy production and its strategic geographical position in Nevada, is well-positioned to capitalize on the growing demand for finance in the technology sector, particularly in the emerging market for domestically sourced batteries, especially in relation to electric vehicles (EVs) and energy storage systems.
