Alsym Energy Emerges From Stealth To Provide Low-Cost, High-Performance Rechargeable Batteries
Alsym™ Energy, a developer of next-generation rechargeable batteries, today announced that it is emerging from stealth to offer energy storage solutions for electric vehicles (EVs), stationary storage, and marine applications. Alsym’s battery technology promises to provide the performance of lithium-ion batteries at a fraction of the cost and without the inherent risk of fire. The company’s batteries are also less sensitive to raw material shortages and price volatility due to their use of low-cost materials with robust supply chains.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220615005167/en/
Alsym Energy works on its low-cost, high-performance rechargeable battery at R&D facility in Massachusetts. (Photo: Business Wire)
To accelerate the development of these affordable battery systems, Alsym is partnering with a leading India-based automaker in a joint effort to develop Alsym’s batteries for EVs. Conditional on key performance levels being met, the automaker will contract with Alsym to supply a minimum of 3 gigawatt hours (GWh) per year of battery systems for use in its products. Alsym is also in talks with companies in the marine shipping and electric two-wheeler markets to develop similar partnerships.
“Lithium is inherently flammable, and there are numerous risks that accompany all lithium-based battery technologies,” said Mukesh Chatter, CEO and Co-Founder of Alsym Energy. “Alsym Energy is on a mission to provide the world with cost-effective energy storage solutions using advanced, inherently non-flammable battery materials beyond lithium, made from non-toxic, readily available resources to power the growing mobility and stationary storage industries. We’re excited to work with industry partners to produce the next generation of batteries and to validate the innovations that will enable widespread access to clean electricity on a global scale.”
Alsym’s team of scientists and product developers is working to deliver and scale clean, energy-dense batteries that will be available at prices that are affordable to nearly anyone around the world. Founded in 2015, Alsym has raised $32 million to date from investors including Helios Climate Ventures.
“We’re seeing global competition to bring new batteries to market. Most companies are focused primarily on performance and put little thought into also making their batteries safer and more cost-effective—especially for the developing world where consumers are more price-sensitive,” said Nitin Nohria, Ph.D., Chairman of Alsym Energy’s Board of Business Advisors and former Dean of the Harvard Business School. “The team at Alsym Energy is working to ensure that their batteries not only meet performance expectations at reduced cost, but also avoid most of the supply chain challenges associated with lithium-based technologies. Not only are Alsym batteries sustainable, but the company’s business model is sustainable as well.”
The company estimates that Alsym batteries will cost less than half of current lithium-based batteries, enabling automakers to offer EVs at prices lower than comparable models with internal combustion engines. Using non-flammable, non-toxic materials removes many end-of-life concerns often associated with batteries, and Alsym batteries are much easier to recycle, helping ease the burden on waste processors, landfills, and others tasked with managing battery waste.
Alsym is currently in the process of developing a 500-kWh prototype manufacturing facility in Massachusetts. Because the materials used are non-flammable and non-toxic, Alsym batteries can be easily built in nearly any industrial site. They can also be made in existing lithium-ion battery factories with little to no retrofitting required, at lower operating cost and without the need for expensive dry rooms, fire locks, and solvent recovery systems.
About Alsym Energy
Alsym™ Energy is a leading developer of advanced low-cost, high-performance rechargeable batteries made from readily available materials that are inherently non-flammable and non-toxic, providing an economically viable alternative to lithium-based technologies. The company is focused on commercial development and mass production of batteries for use in applications including passenger electric vehicles and two-wheelers, marine shipping, and stationary energy storage to enable a zero-carbon future. To learn more, please visit www.alsym.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005167/en/
Contact information
Media
Cassandra Sweet
Antenna Group for Alsym Energy
alsym@antennagroup.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
BitGo Secures OCC Approval to Convert to Federally Chartered National Trust Bank13.12.2025 03:10:00 EET | Press release
BitGo Holdings, Inc. (“BitGo”), the digital asset infrastructure company, today announced that the Office of the Comptroller of the Currency (“OCC”) approved its application to convert BitGo Trust Company, Inc., a South Dakota-chartered trust company, to a national bank named BitGo Bank & Trust, National Association (N.A.). With today’s OCC approval of its conversion, BitGo’s Trust Company subsidiary is now operating as BitGo Bank & Trust, National Association (N.A.). BitGo Bank & Trust, N.A. will operate under a single, uniform federal supervisory regime, enabling it to deliver the clarity, governance, and regulatory certainty institutions expect from a federally regulated fiduciary. This approval reinforces BitGo’s position as an institutional foundation for the modern financial system, combining bank-level oversight with the security, compliance, and scalability that define BitGo’s infrastructure. Under the national bank charter, and subject to applicable law and OCC requirements, B
FIA, Formula 1 Group and All 11 Race Teams Officially Sign the Ninth Concorde Agreement, Securing Strength and Stability for the Sport in Pivotal Five-Year Agreement12.12.2025 18:10:00 EET | Press release
The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, and Formula 1 Group, the Commercial Rights Holder, have today announced the signing of the Concorde Governance Agreement, a crucial contract defining the regulatory framework and governance terms of the FIA Formula One World Championship until 2030. This follows the announcement in March that the 2026 Commercial Concorde Agreement had been signed by all the teams and Formula 1 Group. Together, these agreements constitute the ninth Concorde Agreement, representing a major step forward in the professionalisation and global development of the sport. First introduced in 1981, the Concorde Agreements are designed to promote sporting fairness, technological innovation and operational excellence, and align all key stakeholders around a shared vision for structured governance and continued growth of the sport. Each iteration of the Concorde Agr
Anabranch Capital Management, LP supports relisting of SmartCraft ASA to Nasdaq Stockholm12.12.2025 17:26:00 EET | Press release
Reference is made to the stock exchange announcement by SmartCraft ASA ("SmartCraft" or the "Company") on 1 December 2025 regarding the contemplated relisting of SmartCraft from Euronext Oslo Børs to Nasdaq Stockholm (the "Relisting") and the announcement of a cross-border merger to effect the Relisting. Funds managed by Anabranch Capital Management, LP (“Anabranch”) intend to vote in favour of the merger plan resolved by the boards of SmartCraft and its Swedish wholly owned subsidiary, SmartCraft Group AB (publ), to effect the Relisting at the Company's extraordinary general meeting planned for January 2025 (the "EGM"). Anabranch intends to vote with all Anabranch shares held at the Record Date for the EGM in favour of the relisting effected by the merger plan. Funds managed by Anabranch currently hold approximately 15.9 million shares in SmartCraft. Disclaimer: The views expressed are those of the authors and Anabranch Capital Management, LP as of the date referenced and are subject
Mohammed Ben Sulayem Re-Elected as President of the FIA12.12.2025 16:49:00 EET | Press release
The Fédération Internationale de l’Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, today confirms that Mohammed Ben Sulayem has been re-elected as President of the FIA, following the election of his Presidential List by the General Assembly in Tashkent, Republic of Uzbekistan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251212213181/en/ President Mohammed Ben Sulayem now begins his second four-year term, having overseen a period of significant renewal and stabilisation for the organisation since his initial election in 2021. Over the past four years, the FIA has undergone a wide-ranging transformation, improving governance, operations and restoring the financial health of the federation. These changes have strengthened the FIA’s position as the world’s governing body for motorsport and the leading authority on safe, sustainable, and affordable mobility.
Capcom’s All-new IP PRAGMATA to Launch on April 24, 2026!12.12.2025 16:00:00 EET | Press release
Capcom Co., Ltd. (TOKYO:9697) today announced that sci-fi action-adventure game PRAGMATA, a completely new IP, is scheduled for release on April 24, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251212791950/en/ PRAGMATA Key Art PRAGMATA is a new type of sci-fi action-adventure game mixing puzzle and action elements. In the game, which takes place on the moon in a near-future world, the spacesuit-clad Hugh and android girl Diana cooperate while fighting their way back to Earth. By bringing the title to Nintendo Switch™ 2 in addition to PlayStation®5 system, Xbox Series X|S and PC, Capcom looks to further advance its multi-platform strategy and expand its user base. Moreover, a playable demo of the game will be released first on PC starting today, December 12, to further convey the appeal of the title. The company hopes that players look forward to PRAGMATA, which has already garnered acclaim for its playable demos at
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom