Ion Storage Systems, a College Park-based energy startup, raised $8 million in funding as it looks to begin manufacturing of its solid state batteries.
The funding round was led by Alsop Louie Partners, a San Francisco-based venture capital firm.
“We believe that Ion Storage Systems is poised to be the leader in an emerging generation of rechargeable battery technology companies,” Mark G. Fields of Alsop Louie Partners said in a statement. Fields will join the company’s board.
The company spun out of the Maryland Energy Innovation Institute, which was created by the state government in 2017 with a focus on spurring entrepreneurship in energy, and licensed technology from the University of Maryland. It has also received funding from the U.S. Department of Energy programs ARPA-E and EERE, NASA and Lockheed Martin.
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