Elevated Materials awarded $50M DOE grant to build $100M lithium film manufacturing plant
Type: Financing · Technology: Storage · Country: United States · Value: $50M · Announced: 2026-09-16
Santa Clara-based battery component manufacturer Elevated Materials secured a $50 million federal matching grant from the U.S. Department of Energy to construct a $100 million manufacturing facility. The award, part of the DOE's Battery Materials Processing and Battery Manufacturing Grants program, will fund the expansion of the company's roll-to-roll vacuum deposition production platforms to an annual capacity of approximately 3.5 GW. Elevated Materials, carved out of semiconductor equipment giant Applied Materials and backed by TPG Rise Climate, will use the technology to scale its proprietary ELi ultra-thin lithium-metal films, which offer higher energy density than conventional graphite anodes. The project aims to address manufacturing hurdles for pure lithium-metal films and supply critical materials for electric vehicles, defense, and grid-scale energy storage.
Counterparties
- Applied Materials (Parent Company)
- TPG Rise Climate (Parent Company)
- Elevated Materials (Developer)
- U.S. Department of Energy (DOE) (Lender)
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