Elevated Materials, the newly launched battery materials startup, is making waves with its promise to revolutionize battery technology through cutting-edge manufacturing processes. Spun out of Applied Materials, the company is positioned to address pressing demand for enhanced battery performance and longevity.
Founded on February 4, 2025, Elevated Materials has already attracted significant funding from TPG Rise Climate, known for its climate-focused investing strategies. According to the company's CEO, Jim Cushing, this financial backing allows them to leverage differentiated roll-to-roll vapor deposition technology to produce ultra-thin lithium films, which are set to deliver enhancements to lithium-ion batteries' energy density and lifespan.
Cushing emphasized the challenges currently faced by the battery market, stating, “We are helping our customers solve these challenges with our differentiated roll-to-roll vapor deposition technology.” With these ultra-thin films, Elevated Materials aims to optimize battery performance, enabling manufacturers to achieve gigawatt-hour scale production effectively.
) The company benefits from its deep-rooted expertise and support from Applied Materials, which has spent nearly ten years developing battery technologies. Elevated Materials is not just starting with theory; it enters the market with hundreds of patents, promising innovations across various battery applications.
Batteries using Elevated Materials' lithium films can employ both graphite and silicon-based components, effectively addressing the issue of “first-cycle loss,” where batteries lose energy density upon initial charging. This breakthrough allows for more efficient energy storage, increasing the overall charge cycles and extending battery life significantly.
Dr. Peter Lamp, Principal Expert Battery Cell Technology at BMW Group, recognized the potential of Elevated Materials’ work, asserting, “Elevated Materials' expertise in thin film technology is a big step for next-generation batteries. Its innovative solutions are key to overcoming challenges in energy density and anode-specific capacities.”
With Elevated Materials' entrance, the market could witness substantial transformations. The startup has already secured multi-million dollar contracts with key players, including major battery manufacturers, automotive original equipment manufacturers (OEMs), electric aviation companies, and advanced battery startups. Jonathan Garfinkel, Managing Partner of TPG Rise Climate, reiterated this sentiment: “Our deep... to serve the world's largest battery, auto, and aviation OEMs around the world.”
Another major player supporting the venture, Dr. Om Nalamasu, Chief Technology Officer at Applied Materials, emphasized the transformative power of materials engineering. He stated, “The launch of Elevated Materials is a testimony to the creativity and dedication of our team... turning the vision of a next-generation energy economy.”
The market's interest is not only driven by performance statistics but also by the growing demand for cleaner, more efficient energy solutions across the globe. Elevated Materials’ technology is expected to fuel advancements beyond traditional battery realms, paving the way for electric vehicles, energy storage systems, and even consumer electronics.
President and CEO of Elevated Materials, Cushing, reflects on the company's mission: “We are excited to bring our innovative lithium film technology to the market... empower electric vehicles, eVTOL aircraft, grid energy storage systems, and consumer electronics to achieve unparalleled performance and longevity.”
The launch of Elevated Materials signals not only the emergence of another player seeking to innovate within the battery technology sector but also indicates the accelerating push toward electrification and sustainability. If the venture succeeds, Elevated Materials could redefine energy storage's future, one ultra-thin lithium film at a time.