Press Releases/ Announcement
- ProLogium Technology has received investment from CRFM in the amount of tens of million US dollars to facilitate its mass production plans for solid-state batteries.
- The funding will be used to expand the company’s footprint in Asia markets and accelerate the progress of its global mass production of solid-state batteries.
ProLogium Technology, a leading solid-state battery (SSB) developer and manufacturer, announced today that it has received investment from CRFM in the amount of tens of million US dollars. The funding will be used for ProLogium’s SSB mass production and capacity expansion plans in Asia to meet the urgent need for high-quality EV batteries from major OEMs. The expansion plans will help accelerate ProLogium’s offering of SSB solutions for new-energy vehicle (NEV) strategic partners. As part of the agreement, CRFM will be one of ProLogium’s key partners in its business and strategic development in the Asia market. As ProLogium is actively seeking to broaden its global footprint and step up capacity expansions, the funding will help the company expand in the Asia market and further the progress of its SSB global mass production.
CRFM CEO Ou Wenzhi remarked, “New energy has long been a key area of investment for CRFM. We have invested over 30 relevant companies across the new energy value chain. This allows us to develop robust industry resources and a vigorous industry ecosystem. The safety of EV batteries has been a focus of public attention in recent years. The impending and inevitable need for the development of solid-state battery is now a consensus within the industry. Investing in solid-state battery, a key element of the industry chain is in line with CRFM’s long-term strategy and direction of cultivating forward-looking emerging industries and investing in high technology fields. ProLogium is known for its excellence in technology, product performance, and leading mass production capabilities. We are pleased to join efforts with ProLogium and deepen our engagement in the new energy sector, and particularly, in solid-state battery. Going forward, with its brand influence and network of major OEM and industry chain partners, CRFM will help ProLogium grow and expand its reach in the Asia market,”
ProLogium Technology Founder and CEO Vincent Yang said, “With proven core technologies, mass production capabilities, and quality improvement, ProLogium is making great strides in the industrialization of solid-state battery. Due to safety concerns, China, the largest EV market in the world, shifted from NCM (nickel cobalt manganese) to LFP (lithium iron phosphate) batteries. In 2021, LFP overtook NCM and accounted for over 50% installed batteries in China.”
“Solid-state battery enjoys greater advantages over LFP and NCM batteries as it delivers higher safety performance over LFP and enables higher energy density over NCM,” Vincent Yang added. “ProLogium’s GWh-level plant is underway and is expected to be fully operational by the end of 2022. We would like to thank CRFM for their support and recognition, which is key in facilitating ProLogium solid-state battery’s success in Asia. We are convinced that CRFM’s brand reputation and the partnership between the two formidable companies will help ProLogium expand into the Asia EV market and accelerate its global expansion plans for SSB mass production. Our collaboration will also lead the way in the world’s collective effort to reach net zero.
During its early years, ProLogium focused on the development and manufacturing of batteries for consumer electronics and explosion-proof applications. “Safety first” has been the top priority of our products ever since. In 2016, after its batteries were verified by eminent international automotive OEMs, the battery maker pivoted towards the development of solid-state EV battery. ProLogium is one of the few companies in the world that develops and manufactures its raw materials and cells in-house. After years of hard work in development and product verification, its single-layer yield reached 99.9% – an achievement hard to match by competitors, and critical for ProLogium’s path to commercialization.