Posted September 8, 2021
AquaLith Advanced Materials Receives Investment from Maryland Momentum Fund to Create More Efficient, Economical, and Environmentally Friendly Lithium Ion Battery Materials
AquaLith is Co-Founded by a University of Maryland, College Park Professor and is Enabling a Cheaper, Safer, Higher Density Lithium Ion Battery
Baltimore, Md. (September 8, 2021) – AquaLith Advanced Materials, a Maryland company developing revolutionary lithium ion battery materials, has completed its first outside investment, raising $750,000 from the Maryland Momentum Fund (MMF) and a consortium of private investors.
This funding will allow AquaLith to expand its development laboratory and start production of sample products. The technology is based on the work of Professor Chunsheng Wang, the Robert Franklin and Frances Riggs Wright Distinguished Chair in the A. James Clark School of Engineering at the University of Maryland, College Park (UMCP), in collaboration with Kang Xu, a Fellow at the U.S. Army Combat Capabilities Development Command Army Research Laboratory, now known as DEVCOM, Army Research Laboratory.
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