Fuel and chemical producer Flint Hills Resources had co-led a $20m series C round for US-based battery materials developer Wildcat Discovery Technologies with battery technology incubator InoBat and investment firm IPM Group.
The round also featured existing backers that included venture capital firms Presidio Partners, 5AM Ventures and Infield Capital.
Wildcat tests and synthesises possible materials for use in advanced batteries, and also works with partners on materials for technologies such as thermoelectrics – where electricity is generated through temperature differences – structural materials, gas storage and carbon capture.
The company has now raised approximately $73m since it was founded, according to press releases and securities filings. It received $8m in a July 2017 series B round led by a $5m investment from battery technology producer A123 Systems.
The round also featured 5AM Ventures, Presidio Partners, Infield Capital, Virgin Green Fund, which was backed by conglomerate Virgin, and Vision Ridge Partners. All of them were named as existing investors.
