PolyPlus Battery Company announced a strategic partnership with Applied Materials, a global leader in semiconductor manufacturing equipment and services. The partnership will see Applied Materials provide PolyPlus with its expertise in deposition technology to help the company develop its solid-state lithium batteries.
PolyPlus Battery Company announced the completion of a USD 10 million Series A financing round. The round was led by Tao Capital Partners, with participation from other investors, including AMETEK, Applied Materials, and LG Chem. The funding will be used to support the development and commercialization of PolyPlus' solid-state lithium batteries.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 5230
Published Date: Sep 15, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for automotive sector is the major factor driving the market growth.
The market size of lithium-air batteries is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024-2036.
The major players in the market are IBM, PolyPlus Battery Company, Toyota, Sion Power, Seeo (acquired by Bosch), QuantumScape, Oxis Energy, and others.
The automotive segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.