Elegus Technologies, a spin-out from the University of Michigan, is excited to announce a new joint venture with XALT Energy and Energy Power Systems, lithium-ion battery manufacturers based in Midland and Pontiac, Michigan. The $1.5M joint venture partnership combines the disruptive battery separator technology being developed at Elegus with the resources and industry experience found at XALT Energy and EPS.
“As improvements in technology allow higher and higher energy density Li-ion batteries, safety issues become far more challenging,” said Dennis Townsend, XALT Board Chairman. “Making these batteries safe and reliable will require the need for an advanced separator solution with excellent electrical performance and dimensional integrity. XALT believes that Elegus’ Aramid Nano Fiber Separator will be the solution that will enable XALT to achieve its higher energy roadmap while maintaining safety.”
The Elegus lithium ion battery separator technology, licensed from the University of Michigan, was developed to solve the problem of energy density and safety found in lithium-ion batteries, which power everything from iPhones to laptops to electric vehicles. Normally, plastic separators are found in the middle of all these batteries, but Elegus is developing a separator that is both thinner and stronger, which can allow for a safe increase in energy density.
“We’re very excited for this next phase in our development”, said Elegus Technologies CEO John Hennessy. “We’re excited to be partnering with battery manufacturers who recognize the problem of safety and energy density. XALT and EPS understand the problem, and their long-term vision aligns with ours. Things like the large-scale adoption of electric vehicles just cannot happen without gains in energy density, battery longevity, and safety. It’s a great partnership for all parties”.
ABOUT XALT ENERGY:
XALT Energy was originally founded in 2009 as Dow Kokam. In 2013, after Dow Chemical Co. sold its interest in Dow Kokam, the company was renamed to XALT Energy. To date, XALT has invested more than $600M in its lithium battery manufacturing facility in Midland, Michigan.
ABOUT ENERGY POWER SYSTEMS:
Energy Power Systems was founded in 2011 and offers low-cost, long-life, and high-powered batteries for grid-connected, commercial, industrial and automotive applications.
ABOUT TOWNSEND CAPITAL:
Townsend Capital is an international investment group with multiple energy-related businesses in its portfolio including including XALT Energy and Energy Power Systems.
ABOUT ELEGUS TECHNOLOGIES:
Elegus Technologies was founded in 2014 as a promising spin-out from the University of Michigan Master of Entrepreneurship program, a joint program between the Ross School of Business and College of Engineering. With significant support from the likes of the University of Michigan, MEDC, and NSF I-Corps, Elegus has continued to develop its patent-pending battery separator technology. In 2015, Elegus was also included in the inaugural cohort of Techstars Mobility (based in Detroit), a prestigious global startup accelerator program with less than a 1% acceptance rate.