Ultion Technologies Secures Series A Funding to Build Critical US Battery Manufacturing Capacity
Torus-led investment accelerates domestically supplied battery production as America races to reduce dependence on foreign battery supply chains
LAS VEGAS–(BUSINESS WIRE)–Ultion Technologies, the only fully integrated U.S. maker of advanced lithium iron phosphate (LFP) battery cell technology and energy storage systems shipping at scale today, closed a Series A funding round led by Torus, a Utah-based pioneer in full-stack energy storage solutions, with participation from additional mission-aligned investors, including Nevada state-sponsored venture capital program Battle Born Venture, which is overseen by the Governor’s Office of Economic Development (GOED).
The investment directly addresses America’s critical battery supply chain vulnerability, with more than 70% of global battery production currently concentrated in Asia and 90% of battery processing occurring outside the U.S. Ultion offers a direct solution by providing domestically manufactured, commercially proven LFP batteries that reduce dependence on foreign imports and improve supply chain resilience.
Dr. Johnnie Stoker, CEO and founder of Ultion Technologies, said:
Every battery imported from outside the U.S. is a missed opportunity for American jobs and a vulnerability in our energy security,
“This funding proves not only that American-made batteries can compete with imported batteries in performance and cost — but that our proven cell technology and deep industry expertise position Ultion to lead America’s growing energy storage market.”
Dr. Stoker and Ultion’s core founding team have been building batteries together for more than two decades and across multiple continents. Past experiences include building six of the earliest lithium battery factories internationally in countries such as China, Finland, Ireland and the United States.
Nate Walkingshaw, co-founder and CEO of Torus, said:
As both an investor and customer, we understand the risks of depending on overseas battery suppliers,
“Ultion’s proven, domestically produced batteries give us unmatched reliability, shorter lead times and the ability to innovate without international supply chain delays.”
Ultion’s Nevada facility produces advanced LFP batteries from a predominantly domestic supply chain with near-term plans to achieve fully domestic sourcing. The Series A funding will enable Ultion to scale domestic production capacity more than fivefold, creating high-quality American manufacturing jobs.
Wood Mackenzie projects more than $1.2 trillion in global battery energy storage investment by 2034 to support the rise of grid-forming renewables. Without dramatic growth in domestic battery production, the vast majority of that economic value will flow overseas. Ultion is uniquely positioned to build a vertically integrated battery manufacturing ecosystem in the U.S., leveraging its proven cell technology, deep industry expertise and steadfast commitment to American manufacturing.
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Ultion Technologies Secures Series A Funding to Build Critical US Battery Manufacturing Capacity, source
