24M Delivers 40 Grid-scale Battery Cells to GPSC for Module Build and Application Validation

Large-format, 110 Ah Cells Validate SemiSolid Manufacturing Approach,
Will Be Assembled into 48V Module in Thailand and Undergo In-field
Testing

CAMBRIDGE, Mass.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/batteries?src=hash” target=”_blank”gt;#batterieslt;/agt;–24M
announced today it has manufactured and delivered 40, 110 Amp-Hour (Ah)
Lithium-ion cells to its partner Global Power Synergy Public Company
Limited (GPSC), the Power Flagship Company of PTT Group. GPSC, in
collaboration with PTT, Thailand’s state-owned energy company, will
assemble these large format cells into 48V modules for stationary
storage projects in Thailand and field them for application validation.

The delivery of these grid-scale battery cells based on a lithium iron
phosphate cathode follows the recent delivery of high energy density,
NMC-based EV cells to the United States Advanced Battery Consortium
(USABC) in February. These milestones further validate 24M’s
chemistry-agnostic, capital-efficient, low-cost approach to advanced
lithium-ion battery manufacturing.

The SemiSolid electrode platform provides unique opportunities for
cost-optimized, application-specific designs in both grid and EV
markets. Specifically, for grid-storage, thicker electrodes deliver a
significant structural bill of materials advantage via inactive material
reduction, while offering robust abuse tolerance, long life, and unique
recycling attributes.

“We’ve proven the novel 24M SemiSolid battery design is production-ready
using our semi-automated pilot facility in Cambridge,” said Rick Feldt,
President and CEO of 24M. “We look forward to working with our partners
to scale this technology further in the coming months.”

“We’re excited to take our partnership with 24M into field deployment
and testing,” said GPSC’s representative. “Low-capital, high-performance
battery storage will be critical to securing the region’s power supply
and advancing the transformation of our energy systems.”

About 24M
24M answers the world’s need for affordable energy
storage by enabling a new, more cost-effective solution–SemiSolid
lithium-ion technology. By re-inventing the design of the battery cell
as well as the manufacturing method, 24M solves the critical,
decades-old challenge associated with the world’s preferred energy
storage chemistry: reducing its high cost while improving its
performance. Founded and led by some of the battery industry’s foremost
inventors, scientists and entrepreneurs, 24M is headquartered in
Cambridge, Mass. For more information, please visit www.24-m.com.

About GPSC
GPSC is an electricity and utility flagship of
PTT group with core business to generate and supply electricity, steam,
and utilities to its industrial customers, Electricity Generating
Authority of Thailand (EGAT), and Provincial Electricity Authority
(PEA). The total generating capacity according to the Equity MW is close
to 5,000 MW of electricity. For more information, please visit www.gpscgroup.com.

Contacts

Stephanie Malkus for 24M
smalkus@tieronepr.com
314-920-6125

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