Rincell Corporation raises $1.2M seed round to accelerate the electrification of high impact carbon emission products using advanced cell chemistries

SAN FRANCISCO, Jan. 8, 2024 /PRNewswire/ -- Rincell Corporation, an advanced chemistry battery cell manufacturer, announced it has raised a $1.2 million seed round investment in an oversubscribed round led by U.S. based NextGen Battery Chem Ventures LLC, managed by Sandiip Bhammer.

Rincell Corporation was founded in 2023 by Jignesh Parikh and Dr. Jagjit Nanda. Jignesh, Rincell's CEO, has a distinguished track record in scaling businesses, high-volume manufacturing, and supply chain. Jignesh is a former CEO at American Lithium Energy and has held executive leadership roles at Hitachi, Intel, and Western Digital. Jignesh expressed his excitement about the milestone, "We're thrilled to be partnering with Sandiip Bhammer – a veteran clean-tech investor and Founder of early-stage India climate fund Green Frontier Capital. Not only does Sandiip have a stellar reputation for supporting founders, but we've immediately felt the positive impact in just the short period of time we've started working together. With this investment, Rincell is poised to accelerate our mission of electrifying critical sectors with high capacity-performance batteries using secure supply chain."

Dr. Jagjit Nanda, Rincell's Chief Scientific Officer, is a respected figure in new battery technology research. As a Distinguished Scientist & Executive Director at the SLAC-Stanford Battery Center and former scientist at Oak Ridge National Lab, his work in solid state chemistry and battery materials has been groundbreaking. Dr. Jagjit Nanda added, "This partnership with NextGen Battery Chem Ventures will help bring our innovative silicon-graphite, LMFP and Sodium-ion battery chemistries to market faster." 

Commenting on the investment in Rincell, Sandiip Bhammer stated, "Our investment in Rincell reflects a commitment to pioneering technologies that are set to revolutionize global energy storage and supply."

Rincell has made rapid progress and in just one year since its founding, has already been shipping samples of its highest capacity-performance 18650 and 21700 Silicon-Graphite batteries to government and commercial customers, including Inventus Power, the largest independent battery pack manufacturer in North America. Chris Turner, Chief Technology Officer at Inventus Power added, "We are excited about the progress Rincell has made to commercialize its silicon-graphite anode 18650 and 21700 cells and will continue to work closely with Rincell to leverage its innovative cell technology when designing next generation advanced battery systems for medical, industrial/commercial, defense, and xEV applications."

The infusion of capital from NextGen Battery Chem Ventures will allow Rincell to get its 18650 and 21700 silicon-graphite batteries ready for commercial production in CY2024.

For more information, visit https://www.rincell.com 

About Rincell:
Rincell Corporation was founded to accelerate the electrification of high-impact carbon emission products, fostering a sustainable future with a secure supply chain. Rincell is committed to Domestic & Ally manufacturing of its high-capacity and performance Silicon-Graphite, LMFP, & Sodium-ion batteries for government and commercial applications.

SOURCE Rincell Corporation

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