LiCAP is a company that provides advanced lithium-ion capacitor technology that delivers high-power and fast-charging energy storage solutions for applications requiring rapid charge-discharge performance. Pulse 2.0 interviewed LiCAP President Richard Qiu to gain a deeper understanding of the company.
Richard Qiu’s Background
Could you tell me more about your background? Qiu said:
“I’m a business-builder with a passion for leading cross-functional teams to drive innovation, accelerate product development, and deliver real customer impact within high-growth tech companies. Over the past 20 years, I’ve worked across strategy, sales, and market expansion – with a strong bias for execution, and I’ve successfully scaled multiple businesses from startup phase to substantial scale. Immediately before joining LiCAP Technologies, I launched and built a $150 million business unit at Udemy as President of New Ventures, raised $50 million from strategic partner Benesse, and helped lead the company to its IPO.”
“I have a broad interest in technology and how to leverage its capabilities to create value for customers. The opportunity to develop cutting-edge technology, build amazing products, and scale a business is what drew me to LiCAP. The company is clearly at an inflection point, and I’m here to lead its next phase of growth. What motivates me most is the challenge of translating advances in materials and processes into real products that make energy storage more efficient and sustainable across industries worldwide.”
Core Products
What are the company’s core products and features? Qiu explained:
“LiCAP is the pioneer of Activated Dry Electrode (ADE) technology – a solvent-free, roll-to-roll electrode manufacturing process designed to transform next-generation battery manufacturing by eliminating toxic wet-coating and energy-intensive drying steps. Our core product offering is the ADE platform: a chemistry-agnostic manufacturing technology capable of producing dry electrodes for a wide range of battery types – including lithium-ion, sodium-ion, and solid-state in EV, transportation and energy-storage applications. The benefits we deliver include high power density and a significant reduction in manufacturing cost and environmental footprint. Importantly, LiCAP’s holistic approach, from formulation to process technology to commercial equipment, gives us a powerful competitive advantage.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Qiu noted:
“Our Activated Dry Electrode technology has served as the foundation for our platform and product roadmap. We initially applied the dry-electrode process to ultracapacitors, using our unique formulation and manufacturing approach. Over time, we scaled our customer base to 30 + clients in applications spanning energy-storage, drones, wind-turbine pitch systems, high-speed rail, and railyard-switching systems.”
“As we refined our dry-electrode manufacturing process, we naturally extended the technology to battery electrodes, including for solid-state batteries. We’ve progressed from tech breakthroughs and prototypes to a commercially operational production line – a 300 MWh facility commissioned in California in summer 2025. As we ramp toward 2 GWh capacity, each evolution strengthens our ability to serve different markets using the same core platform while delivering on cost and performance.”
Significant Milestones
What have been some of the company’s most significant milestones? Qiu cited:
“One of our most significant milestones is our strategic partnership with Nissan Motor Co., which underscores how an established automotive OEM sees LiCAP’s dry-electrode technology as a viable path toward cleaner, more efficient energy storage for next-gen vehicles.”
“Another key milestone is the commissioning of our 300 MWh roll-to-roll dry-electrode production line in California, supported by the California Energy Commission. The first free-standing roll2roll cathode film over 500 meters, marking a transition from lab to production scale.”
“These achievements validate both our technology and our operational readiness—and lay a strong foundation for future partnerships and growth.”
Differentiation From The Competition
What differentiates the company from its competition? Qiu affirmed:
“LiCAP offers a full-stack solution for Activated Dry Electrode manufacturing. That means we own the technology from formulation, through process design, all the way to commercial-scale equipment and production. In practice, producing dry electrodes at a commercial scale requires more than just a coating process – it demands optimized material formulation, optimal mixing and processing, and equipment designed for high-throughput roll-to-roll manufacturing.”
“We always design with scale in mind: if a formulation or process cannot scale, we go back to the drawing board. This integrated mindset gives us a competitive edge over companies that may focus only on one part of the stack. Through partnerships with companies like Dürr and Cellforce, we are deploying our ADE technology in gigawatt-scale production lines. In short: we don’t just innovate in the lab—we innovate with the factory in mind.”
Future Company Goals
What are some of the company’s future goals? Qiu emphasized:
“Our immediate focus is expanding production capacity at our California facility, building on our recent support from the California Energy Commission. We’re also deepening collaborations with automotive OEMs and grid-scale energy providers to move our dry-electrode technology toward high-volume manufacturing. On the technology front, we’re refining the ADE platform to support additional chemistries (such as sodium-ion) and enabling higher-energy applications. Our overarching goal is clear: to lead the transition toward solvent-free, high-performance energy-storage manufacturing at scale – globally.”
Additional Thoughts
Any other topics you would like to discuss? Qiu concluded:
“I’d emphasize that manufacturing innovation is often the unsung hero in clean-energy progress. Scientific breakthroughs matter – but they don’t transform markets unless they can be produced efficiently, reliably, and at scale. At LiCAP, our mission is to close that gap by pairing deep materials and process expertise with real-world execution. We believe dry electrode manufacturing will emerge as the new industry standard across multiple battery formats, and we’re proud to be pioneering that shift.”
