Torus-led investment accelerates domestically supplied battery production as America races to reduce dependence on foreign battery supply chains

Ultion Technologies, the only fully integrated U.S. maker of advanced lithium iron phosphate (LFP) battery cell technology and energy storage systems shipping at scale today, closed a Series A funding round led by Torus, a Utah-based pioneer in full-stack energy storage solutions, with participation from additional mission-aligned investors, including Nevada state-sponsored venture capital program Battle Born Venture, which is overseen by the Governor’s Office of Economic Development (GOED).

The investment directly addresses America's critical battery supply chain vulnerability, with more than 70% of global battery production currently concentrated in Asia and 90% of battery processing occurring outside the U.S. Ultion offers a direct solution by providing domestically manufactured, commercially proven LFP batteries that reduce dependence on foreign imports and improve supply chain resilience.

"Every battery imported from outside the U.S. is a missed opportunity for American jobs and a vulnerability in our energy security," said Dr. Johnnie Stoker, CEO and founder of Ultion Technologies. "This funding proves not only that American-made batteries can compete with imported batteries in performance and cost — but that our proven cell technology and deep industry expertise position Ultion to lead America’s growing energy storage market."

Dr. Stoker and Ultion’s core founding team have been building batteries together for more than two decades and across multiple continents. Past experiences include building six of the earliest lithium battery factories internationally in countries such as China, Finland, Ireland and the United States.

"As both an investor and customer, we understand the risks of depending on overseas battery suppliers," said Nate Walkingshaw, co-founder and CEO of Torus. "Ultion's proven, domestically produced batteries give us unmatched reliability, shorter lead times and the ability to innovate without international supply chain delays."

Ultion’s Nevada facility produces advanced LFP batteries from a predominantly domestic supply chain with near-term plans to achieve fully domestic sourcing. The Series A funding will enable Ultion to scale domestic production capacity more than fivefold, creating high-quality American manufacturing jobs.

Wood Mackenzie projects more than $1.2 trillion in global battery energy storage investment by 2034 to support the rise of grid-forming renewables. Without dramatic growth in domestic battery production, the vast majority of that economic value will flow overseas. Ultion is uniquely positioned to build a vertically integrated battery manufacturing ecosystem in the U.S., leveraging its proven cell technology, deep industry expertise and steadfast commitment to American manufacturing.

About Ultion Technologies

Ultion Technologies is building American battery independence from its vertically integrated Nevada manufacturing facility. As one of the only U.S. companies producing LFP cells and packs at scale with a path to achieve a fully domestic supply chain, Ultion delivers high-performance battery systems for grid storage, medical, industrial, and defense and aerospace applications. The company's commitment to U.S. manufacturing enables superior quality, faster delivery and complete supply chain security. Learn more at ultiontech.com.

About Torus

Torus builds smart, secure mini-power plants that combine flywheel energy storage, generation, security and management in a single platform. Torus solutions serve utilities, commercial and industrial facilities, data centers and defense installations. Headquartered in South Salt Lake, Utah, Torus is transforming how communities generate, store and share energy. Learn more at torus.co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715342814/en/