Ion Storage Systems

At Z2Sixty Ventures, we're driven by the pursuit of innovation that builds a smarter and more impactful world. That's why we were so compelled by Ion Storage Systems (ION) and decided to invest in their Series A round. Their development of revolutionary solid-state lithium batteries promises to reshape industries, from electric vehicles and defense to consumer electronics and grid energy. Imagine batteries that redefine safety, shed weight, and pack unprecedented power into compact designs. ION’s nonflammable technology delivers on that promise, offering enhanced resilience and significant reductions in both volume and weight. This isn't just a theoretical concept; it's a tangible advancement stemming from groundbreaking research at the University of Maryland-College Park, where ION originated in 2015. Their achievements, including winning the LG Chem Battery Challenge and being recognized as a top Maryland startup, underscore their potential.

Our engagement with ION began in the Spring of 2021 at the DeepTech U venture conference hosted by the Polsky Center. We were immediately drawn to their vision. Over the ensuing months, we established a strong connection with Ricky Hanna, ION's CEO, and Mark Field from Alsop Louie, their seed investor. Witnessing ION's strong progress firsthand gave us strong confidence in their ability to execute. As we deepened our understanding of the EV and supply chain landscape, it became evident that the battery sector, and ION particularly, represented a compelling opportunity that aligned with our investment thesis.

The strength of ION's management team is a cornerstone of their success. Ricky Hanna's leadership is exceptional, blending deep technical insight with commercial acumen. Dr. Wachsmann, Chairman and Co-Founder, is a respected authority in solid-state batteries, and the entire team, including Greg Hitz and Liz Santori, demonstrates the technical prowess needed to drive innovation.

The market potential is vast, fueled by the escalating global demand for electric vehicles, driven by environmental mandates and consumer preference. While current lithium-ion technology faces hurdles, solid-state batteries offer significant advantages in range, charging speed, and safety. Beyond EVs, ION's technology has the potential to disrupt numerous other markets. ION has garnered significant support from industry leaders, including US CAR, NASA, BMW, and Lockheed Martin. These partnerships validate their technology and pave the way for successful commercialization.

We recognize that building a transformative energy company requires substantial capital and expertise. ION's strategic approach, focusing initially on the defense market, allows them to refine their technology and establish a robust manufacturing learning curve. This will position them for large-scale success in the EV market and beyond.

We believe Ion Storage Systems is poised to become a leading force in the next generation of battery technology, and we are excited to be a part of their mission to power a more sustainable and efficient future.