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24M Delivers 40 Grid-scale Battery Cells to GPSC for Module Build and Application Validation

May 1, 2019

CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 1, 2019--24M announced today it has manufactured and delivered 40, 110 Amp-Hour (Ah) Lithium-ion cells to its partner Global Power Synergy Public Company Limited (GPSC), the Power Flagship Company of PTT Group. GPSC, in collaboration with PTT, Thailand’s state-owned energy company, will assemble these large format cells into 48V modules for stationary storage projects in Thailand and field them for application validation.

The delivery of these grid-scale battery cells based on a lithium iron phosphate cathode follows the recent delivery of high energy density, NMC-based EV cells to the United States Advanced Battery Consortium (USABC) in February. These milestones further validate 24M’s chemistry-agnostic, capital-efficient, low-cost approach to advanced lithium-ion battery manufacturing.

The SemiSolid electrode platform provides unique opportunities for cost-optimized, application-specific designs in both grid and EV markets. Specifically, for grid-storage, thicker electrodes deliver a significant structural bill of materials advantage via inactive material reduction, while offering robust abuse tolerance, long life, and unique recycling attributes.

“We’ve proven the novel 24M SemiSolid battery design is production-ready using our semi-automated pilot facility in Cambridge,” said Rick Feldt, President and CEO of 24M. “We look forward to working with our partners to scale this technology further in the coming months.”

“We’re excited to take our partnership with 24M into field deployment and testing,” said GPSC’s representative. “Low-capital, high-performance battery storage will be critical to securing the region’s power supply and advancing the transformation of our energy systems.”

About 24M
24M answers the world’s need for affordable energy storage by enabling a new, more cost-effective solution–SemiSolid lithium-ion technology. By re-inventing the design of the battery cell as well as the manufacturing method, 24M solves the critical, decades-old challenge associated with the world’s preferred energy storage chemistry: reducing its high cost while improving its performance. Founded and led by some of the battery industry’s foremost inventors, scientists and entrepreneurs, 24M is headquartered in Cambridge, Mass. For more information, please visit www.24-m.com.

About GPSC
GPSC is an electricity and utility flagship of PTT group with core business to generate and supply electricity, steam, and utilities to its industrial customers, Electricity Generating Authority of Thailand (EGAT), and Provincial Electricity Authority (PEA). The total generating capacity according to the Equity MW is close to 5,000 MW of electricity. For more information, please visit www.gpscgroup.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190501005133/en/

CONTACT: Stephanie Malkus for 24M

smalkus@tieronepr.com

314-920-6125

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY UTILITIES MANUFACTURING ENGINEERING OTHER MANUFACTURING

SOURCE: 24M

Copyright Business Wire 2019.

PUB: 05/01/2019 08:00 AM/DISC: 05/01/2019 08:01 AM

http://www.businesswire.com/news/home/20190501005133/en