The $326m round for ProLogium Technology will be used to develop mass production facilities for ProLogium SSBs in Asia, Europe and the US between 2023 and 2025 to supply the local demands of the major OEMs with sulfide-based EV batteries.
The backing comes from Chinese funds New Epoch Capital, Primavera managed fund Carna Investments and SBCVC managed fund SBCVC Navitas.
ProLogium’s patented manufacturing processes consume around an eighth of the energy required to produce a regular sulfide SSB. The solid electrolyte is recyclable and can be reused for creating new battery cell.s
ProLogium Technology aims to become the first to mass produce ceramic SSBs internationally using smart factory technology, although Blue Solutions in France is in production and many other companies are ramping up production.
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ProLogium currently has deals with car makers Nio on China and VinFast in Vietnam for vehicles that will be sold in Europe.
"The battery is the heart of an EV and only ProLogium SSBs can guarantee their optimum safety and performance. Working with top OEMs worldwide, we will accelerate the time to market for SSB-powered EVs within 2-3 years," said Vincent Yang, ProLogium Founder and CEO
Leo Chen, Managing Partner of dGav Capital, said: "We have witnessed the remarkable progress and innovation made by ProLogium in the area of SSBs for EVs, from research and development, the pilot line, and now all the way through to mass production. We are pleased to invest in ProLogium again, and we have tremendous confidence in ProLogium. With the rapid development of EVs and the lack of quality EV batteries in the market, we hope to see ProLogium and its strategic partners lead the growth of EV industry in the next decade. The commercialization of the highly safe, reliable and energy dense SSBs will