Ultion Technologies is the only fully integrated U.S. manufacturer of advanced lithium-iron-phosphate (LFP) battery cell technology and energy storage systems, currently shipping at scale. Recently, the company completed a Series A funding round led by Torus, a Utah-based pioneer in energy storage, with participation from the state-sponsored Battle Born Venture program.
This investment aims to address America’s critical vulnerability in its battery supply chain, as over 70% of global battery production and 90% of processing occur in Asia. Ultion produces domestically manufactured LFP batteries, reducing reliance on foreign imports and enhancing supply chain resilience.
With over two decades of experience, Dr. Stoker and Ultion’s founding team have established several lithium battery factories worldwide. Their Nevada facility significantly uses a domestic supply chain, with plans for full domestic sourcing soon. The Series A funding will expand their production capacity more than fivefold, creating high-quality jobs in the U.S.
Wood Mackenzie anticipates over $1.2 trillion in global battery energy storage investments by 2034 to support renewable energy growth. Without significant domestic production, much of this value may go overseas. Ultion is well-positioned to develop a vertically integrated battery manufacturing ecosystem in the U.S. through its proven technology and commitment to American manufacturing.
KEY QUOTES:
“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. Johnnie Stoker, CEO and founder of Ultion Technologies
“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.”
Nate Walkingshaw, co-founder and CEO of Torus