Anzu Partners, an investment firm that focuses on breakthrough industrial technologies, led AMB's oversubscribed $25M Series A funding, with participation from TDK Ventures, Foothill Ventures, Toyota Ventures, Zeon Ventures, SAIC Capital, VinFast, Doral Energy-Tech Ventures, and Creative Ventures. The financing will allow AMB to expand its team and accelerate its commercialization efforts, advance its roll-to-roll manufacturing pilot line to a production-grade line for customers, and extend its dry-electrode manufacturing platform to new battery chemistries and technologies like solid-state batteries.

AM Batteries was founded in 2016, headquartered in Acton, MA focused on dry-electrode manufacturing for lithium-ion batteries. Compared to conventional slurry casting approach, AMB's technology completely eliminates solvent recovery and electrode drying, which reduces energy consumption of a battery plant by 50%, saves 40% of capital equipment in electrode manufacturing and potentially produces higher energy, faster charging and lower cost lithium-ion batteries. AMB technology can be used for other types of battery electrode fabrication. AMB is working on scaling the technology for the lithium-ion battery industry.