- Nascent Materials aims to cut lithium-ion battery costs by 75% over a decade through gradual improvements
- The company targets a 12% increase in cathode energy density and lower manufacturing costs
Chaitanya Sharma, founder of the startup Nascent Materials, announced the development of a new technology for processing cathode materials used in lithium-ion batteries, aiming to reduce production costs and improve performance.
Sharma explained that this new process can increase the energy density of cathode materials by up to 12%, while reducing manufacturing costs by approximately 30%.
Process Details
This move follows a 75% drop in lithium-ion battery costs over the past decade—a decline attributed not to a single breakthrough but to a series of incremental improvements in research and development.
Sharma previously worked at Tesla’s Gigafactory in Nevada before leading iM3NY, a lithium-ion battery manufacturer in New York.
He noted that one of the main challenges he faced in the sector was the inconsistency in the quality of raw materials, especially for smaller companies.
He said this contributed to iM3NY’s bankruptcy filing under Chapter 11 of the U.S. Bankruptcy Code last January.
Sharma explained that supply issues stem from the fact that large players like Tesla receive more consistent-quality materials, while smaller companies receive lower-grade materials.
He stressed that his startup aims to provide high-quality, consistent cathode materials for all manufacturers, through a production process that uses less energy and creates particles that are more uniform in size and shape, allowing for denser packing and improved battery performance.
He also noted that the new technology can use lower-purity raw materials, opening the door to relying on local sources and reducing dependence on imports from China, which currently dominates global cathode production.
In its initial phase, Nascent Materials is targeting the production of two types of cathode materials: lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP), which are seeing increasing demand from automakers and data centers due to their low cost and improved performance.
The company also plans to expand in the future to other chemistries such as nickel-manganese-cobalt (NMC) and lithium-manganese-rich (LMR), which General Motors intends to introduce to the market in 2028.
The startup recently raised $2.3 million in seed funding in a round led by SOSV, with participation from the New Jersey Innovation Evergreen Fund and UM6P Ventures.
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