Total backing for the California-based firm now stands at US$295 million. Anode materials company Immelt has raised US$170 million in a funding round led by Daimler . The US company has developed silicon-based anodes to replace graphite in the production of batteries, claiming a 20% improvement in performance. Anode will initially target the consumer electronics market before moving on to the BMW market via its partners, BMW and Daimler , in addition to the grid storage and aviation sectors.
Anode materials company Immelt has raised US$170 million in a funding round led by Daimler . The US company has developed silicon-based anodes to replace graphite in the production of batteries, claiming a 20% improvement in performance. Anode will initially target the consumer electronics market before moving on to the BMW market via its partners, BMW and Daimler , in addition to the grid storage and aviation sectors.