AM Batteries
AM Batteries is a Billerica, MA-based private company that sells turnkey solvent-free dry electrode manufacturing equipment and electrodes, based on its proprietary Powder to Electrode™ process, to lithium-ion battery cell manufacturers and automotive OEMs worldwide.
- Company typePrivate
- Founded2020
- HeadquartersChelmsford, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What AM Batteries does
AM Batteries, Inc. is a Delaware-incorporated, venture-backed private company headquartered in Billerica, Massachusetts, that develops and sells a proprietary solvent-free dry electrode manufacturing technology branded as Powder to Electrode™. The company's core product is a three-step roll-to-roll process — dry mixing of cathode or anode active powders with binder and conductive additive, precision dry powder deposition onto current collectors, and tunable calendering — that replaces the toxic NMP solvent coating and energy-intensive drying steps used in conventional lithium-ion battery electrode production. The process is positioned as chemistry-agnostic, compatible with NMC, NCA, LFP, LCO, graphite, and silicon-based anodes, and is also marketed for solid-state and sodium-ion battery systems.
The company monetizes through two primary streams: turnkey manufacturing equipment sales to battery cell producers, and direct sale of high-performance dry electrodes. Its go-to-market is enterprise field sales supported by a Customer Success Center in Billerica (opened July 2024 with a $2.23M Massachusetts M2I2 grant) that lets automotive OEMs and cell manufacturers qualify their materials on AMB's dry-room coating line, and by Demo Day events showcasing live pilot-line production at 20 m/min. The customer base is concentrated in Tier-1 automotive OEMs and global cell manufacturers, with ATL (Amperex Technology Limited) publicly cited as having selected AMB's dry deposition technology after evaluating all dry electrode processes globally.
Financially, AM Batteries has raised approximately $30M+ in disclosed equity (a $3M seed in September 2021 led by TDK Ventures and Foothill Ventures, and a ~$44M Series A/extension beginning October 2022 led by Anzu Partners and expanded in November 2023 led by Toyota Ventures with participation from Asahi Kasei, TDK Corporation, Porsche Ventures, RA Capital, and others), plus a $2.23M Massachusetts state grant and an NSF award. The company has 11-50 employees, doubled its workforce over the prior year, and appointed former Maxwell Technologies CEO Dr. Franz Fink as CCO in February 2026 to lead commercialization of its DBE 2.0 platform. Revenue is not publicly disclosed, and the company remains in a pre-commercial or early-commercial stage, having only completed its first major Demo Day validation in October 2025.
AM Batteries firmographics
Firmographics- Name
- AM Batteries
- Legal name
- AM Batteries, Inc.
- Website
- https://am-batteries.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- AM Batteries is a Billerica, MA-based private company that sells turnkey solvent-free dry electrode manufacturing equipment and electrodes, based on its proprietary Powder to Electrode™ process, to lithium-ion battery cell manufacturers and automotive OEMs worldwide.
- Ownership category
- akta.pro rank
AM Batteries industry classification
Industry- Product category
- Battery Manufacturing Equipment
- NAICS
- Battery Manufacturing (33591)
- akta.pro primary industry
- Battery Manufacturing Equipment & Gigafactory Automation (Coating, Calendering, Stacking/Winding) (EUAFABAM)
Keywords
Where AM Batteries is headquartered
LocationHeadquarters
- HQ city
- Chelmsford
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
AM Batteries business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Supply Chain
Revenue model
- Manufacturing Equipment Sales: AM Batteries sells turnkey manufacturing equipment for dry electrode production to battery manufacturers, providing complete solutions from raw materials to rolls of electrode.
- Electrode Sales: Sale of high-performance dry electrodes produced using the proprietary Powder to Electrode technology.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
AM Batteries product offering
Product offeringCore offering
AM Batteries sells turnkey dry electrode manufacturing equipment and dry electrodes for lithium-ion and next-generation battery production, built on its proprietary Powder to Electrode™ process. The three-step dry coating method (dry mixing, powder deposition, calendering) eliminates toxic solvents such as NMP and energy-intensive drying ovens that typically account for up to ~50% of factory energy consumption and ~30% of factory CapEx in conventional wet-slurry lines. Customers include automotive OEMs, cell manufacturers, and developers of solid-state and sodium-ion batteries seeking lower CapEx/OpEx, smaller factory footprint, and reduced environmental impact.
Product overview
AM Batteries offers a unified product portfolio anchored by its Powder to Electrode™ Dry Coating Process—a turnkey manufacturing technology for lithium-ion battery electrode production that eliminates solvents and drying entirely. This core technology is complemented by a Customer Success Center that provides material testing and validation services for customers, and a Savings Calculator tool that helps prospects quantify potential cost and performance improvements. The company operates as a B2B equipment supplier offering both manufacturing equipment and associated services.
Differentiator
Problem solved
Functional benefit
Brands
- Powder to Electrode™: AM Batteries' proprietary dry-coating method for lithium-ion battery electrode manufacturing that eliminates solvents and drying processes
Products and services
- Powder to Electrode™ Dry Coating Equipment Turnkey dry electrode manufacturing equipment for lithium-ion and next-generation battery cells (including solid-state and sodium-ion). The system performs dry mixing, dry powder deposition, and calendering to produce electrodes without solvents, supporting chemistries such as NMC, NCA, LFP, LCO, graphite, and SiOx/SiC with PFAS and non-PFAS binders. Sold to battery cell manufacturers, automotive OEMs, and advanced battery chemistry developers as a complete production line.
- Dry Electrodes High-performance dry-coated electrodes produced by AM Batteries using its Powder to Electrode™ process. Sold to cell manufacturers, automotive OEMs, and other partners who need to qualify dry electrode material for use in their battery cells without first installing a full dry coating production line.
- Customer Success Center Services Materials testing, validation, and qualification services for dry electrode production, delivered from the Billerica, MA facility. The center enables automotive OEMs, cell manufacturers, and industry partners to run test production, validate their materials, and commission electrode production under moisture-free conditions before purchasing equipment.
Quantifiable outcome
- 75% lower energy consumption in electrode manufacturing
- +7 more outcomes
Companies that use AM Batteries
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
AM Batteries technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
AM Batteries partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- TDK CorporationcoreJoint development agreement between AM Batteries and TDK Corporation to advance energy-efficient battery manufacturing. The partnership aims to enhance sustainability, improve battery manufacturing scalability, and accelerate development of solid-state batteries. TDK brings expertise in advanced materials and manufacturing while AMB provides its proprietary dry coating technology.
Scale indicators13 records
Recent moves7 records
Expansion highlights6 records
AM Batteries competitors and assessment
Company assessmentBroad incumbents
- Maxwell Technologies (acquired by Tesla): Maxwell Technologies developed the original Dry Battery Electrode (DBE) technology that AM Batteries now commercializes as an independent supplier. Acquired by Tesla in 2019, Maxwell's IP underpins Tesla's 4680 cell program and represents both AMB's technological lineage and its most direct vertically integrated competitor.
- Tesla (4680 / dry electrode program): Tesla operates dry battery electrode manufacturing at scale via its Maxwell Technologies acquisition, producing 4680 cells with dry electrode cathodes. Tesla is the largest proof-point for dry electrode commercialization and the most strategically significant competitor for independent dry electrode equipment suppliers like AM Batteries.
- Volkswagen Group / PowerCo (dry electrode): PowerCo SE, Volkswagen's battery subsidiary, is developing dry electrode coating processes for its gigafactories in partnership with equipment suppliers. Represents a major potential customer but also a competitor as VW seeks to internalize dry electrode IP for captive cell production.
- LG Energy Solution: LG Energy Solution is one of the world's largest lithium-ion battery manufacturers and has publicly disclosed dry electrode development programs. As a customer target for AMB, LG represents a significant pipeline opportunity, while its in-house efforts represent potential competitive supply.
- Samsung SDI: Samsung SDI is a major global cell manufacturer actively investing in dry electrode technology for next-generation batteries. Comparable to LG as both a potential customer for AMB's equipment and a competitor developing internal dry electrode capabilities.
- CATL (Contemporary Amperex Technology): CATL is the world's largest battery manufacturer and ATL's parent company. While ATL has validated AMB's technology, CATL itself represents both a potential customer and a competitor with substantial in-house R&D into advanced electrode manufacturing techniques.
Direct peers
- LiCAP Technologies: LiCAP Technologies develops dry electrode activation equipment and processes for lithium-ion battery manufacturing, using solvent-free coating technology similar in concept to AM Batteries' Powder to Electrode process. Both companies target the same customer segment of cell manufacturers seeking to eliminate NMP solvents from production.
Emerging players
- Microvast: Microvast is a vertically integrated lithium-ion battery manufacturer developing fast-charging and high-power cells. As a smaller publicly-traded cell maker, Microvast is the type of mid-sized customer that would benefit from AMB's equipment offering and represents a similar stage of commercialization.
- QuantumScape: QuantumScape develops solid-state lithium-metal batteries and is partnering with cell manufacturers for production scale-up. While a chemistry company rather than equipment supplier, QuantumScape and AMB's partnership with TDK Corporation represent the broader solid-state manufacturing ecosystem where AMB's dry electrode technology could be deployed.
Others
- Asahi Kasei (Hipore separator, battery materials): Asahi Kasei is a major battery materials supplier (separators, binders) and participated in AMB's Series B. As an investor-adjacent materials company with overlapping battery industry relationships, Asahi Kasei represents both a strategic ally and an adjacent peer in the battery manufacturing supply chain ecosystem.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
AM Batteries social profiles
Digital presenceAM Batteries financial estimates
Financial estimateRevenue estimate
Valuation estimate
AM Batteries leadership team
Management profileNumber of profiles
Profiles12 records
AM Batteries funding detail
Funding detailFunding overview
Funding rounds6 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AM Batteries M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AM Batteries
What does AM Batteries do?
AM Batteries sells turnkey dry electrode manufacturing equipment and dry electrodes for lithium-ion and next-generation battery production, built on its proprietary Powder to Electrode™ process. The three-step dry coating method (dry mixing, powder deposition, calendering) eliminates toxic solvents such as NMP and energy-intensive drying ovens that typically account for up to ~50% of factory energy consumption and ~30% of factory CapEx in conventional wet-slurry lines. Customers include automotive OEMs, cell manufacturers, and developers of solid-state and sodium-ion batteries seeking lower CapEx/OpEx, smaller factory footprint, and reduced environmental impact.
Is AM Batteries a public or private company?
AM Batteries is a private company. It is classified as venture growth investor backed and is currently operating.
When was AM Batteries founded?
AM Batteries was founded in 2020. It employs 11 to 50 people.
Where is AM Batteries based?
AM Batteries is headquartered in Chelmsford, United States, in the North America region.
How does AM Batteries make money?
Two revenue lines are on record. Manufacturing Equipment Sales are the primary driver. The others are electrode Sales.
Who are AM Batteries's main competitors?
Broad incumbents on record are Maxwell Technologies (acquired by Tesla), Tesla (4680 / dry electrode program), Volkswagen Group / PowerCo (dry electrode), LG Energy Solution, Samsung SDI and CATL (Contemporary Amperex Technology). LiCAP Technologies is listed as a direct peer. Emerging players are Microvast and QuantumScape. Asahi Kasei (Hipore separator, battery materials) is listed as an others.
Does AM Batteries have an API?
No public API is recorded for AM Batteries.
What industry is AM Batteries in?
AM Batteries's product category is Battery Manufacturing Equipment. Its primary akta.pro industry code is EUAFABAM, Battery Manufacturing Equipment & Gigafactory Automation (Coating, Calendering, Stacking/Winding). Its NAICS code is 33591.