Ann Arbor, Michigan – General Motors and a third party have invested $4.2 million in a Michigan-based developer of next-generation lithium-ion batteries. General Motors Ventures and Itochu Technology Ventures have invested in Sakti3 to advance that firm’s manufacturing capabilities.
The companies also plan to work together to speed commercialization of Sakti3 battery cells. The two new investors join previous investors Khosla Ventures and Beringea.
“GM Ventures is making strategic investments in new technology to support our core automotive business,” said Jon Lauckner, president of GM Ventures. “Our objective is to identify start-up companies that offer the best future technology for our vehicles, including next-generation propulsion systems. In this case, our investment in Sakti3 gives us access to an innovative battery technology that has the potential to be a mainstream solution for electrically-driven cars and trucks of the future.”
Sakti3 was awarded a $3 million grant from the Michigan Economic Development Corporation in 2009, and has been designed as a State of Michigan Center of Energy Excellence in partnership with the University of Michigan.