Fujifilm invests $20m more into U.S. developer of semisolid batteries

Investment in Volkswagen-backed 24M includes licensing deal

Fujifilm Holdings has agreed to invest a total of $25 million into U.S. battery developer 24M Technologies since 2020. © Reuters

TSUYOSHI TAMEHIRO, Nikkei staff writer

September 15, 2022 05:03 JST

TOKYO -- Japan's Fujifilm Holdings will invest an additional $20 million into 24M Technologies, a U.S. developer of next-generation "semisolid" lithium-ion batteries.

Fujifilm said Wednesday it will make the investment in exchange for convertible promissory notes. The Massachusetts-based company raised $5 million from Fujifilm in 2020. Other backers of 24M include Volkswagen and Japanese trading house Itochu, currently the top shareholder.