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Coreshell Technologies funding, valuation and investors
US lithium-ion battery developer replacing graphite anodes with domestically sourced metallurgical silicon; disclosed a $30M Series B on November 11, 2026.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series B (announcement date; separate legal close date undisclosed)
$30M · November 11, 2026
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$54M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
series b · San Leandro, California, United States
Investors in latest funding
Lead: Ferroglobe , Access Industries
Other: ADS , Helios Ventures , Pegasus Tech Ventures , Mana Ventures , Entrada Ventures
Overview
Coreshell develops lithium-ion cells with anodes based on US-sourced metallurgical silicon rather than graphite, targeting defence, transport and industrial battery purchasers. In a November 11, 2026 issuer release it announced a $30M Series B co-led by Ferroglobe and Access Industries. Its L&F supply arrangement covers non-China LFP cathode materials.
The previously selected DOE federal-share project aims to expand domestic manufacturing capacity; future gigafactory output is not existing shipments or revenue.
Why Coreshell Technologies is interesting
The $30M equity Series B led by Ferroglobe and Access Industries is distinct from the company's March 2025 $24M strategic financing and from a separate $50M US Department of Energy manufacturing-project selection. Ferroglobe is both an investor and material supplier; supplier traceability and real battery cycle economics are central diligence questions.
Product & use cases
Illustrative buyer qualification process, not a firsthand product test: (1) a defence OEM/pack maker sets battery weight, energy, cycle-life, safety, price and material-origin requirements; (2) Coreshell supplies specifications/samples for metallurgical-silicon cells and traceability documents for Ferroglobe and L&F chains; (3) the buyer bench-tests cells against conventional LFP/graphite and rival silicon-carbon products at comparable conditions, tracking swelling, cycle life, thermal behaviour, safety and cost; (4) the buyer qualifies a UAV, vehicle or industrial pack and verifies sourcing compliance; (5) production purchase depends on validated repeatable factory yields and warranty economics. The firm's +30% energy-density figure is a vendor claim, not an independently reproduced result.
- Defence drones, ground vehicles and robots requiring traceable non-China battery materials.
- Automotive OEM and pack makers qualifying domestic silicon-based anode cells.
- Industrial energy storage and critical infrastructure battery users comparing cost and supply-chain concentration.
Key facts
- Nov 11, 2026 issuer statement: closed $30M Series B co-led by Ferroglobe and Access Industries; investors also include ADS, Helios Ventures, Pegasus Tech Ventures, Mana Ventures and Entrada Ventures.
- Mar 18, 2025 official earlier $24M strategic financing, anchored by Ferroglobe and Zeon Ventures, was a separate investment.
- Aug 24, 2026: $50M DOE federal project share/selection for a planned battery-manufacturing expansion; not Series B equity and not proof of construction completion or disbursement.
- Jul 2026: eight-year L&F LFP cathode-material supply agreement, with Ferroglobe as metallurgical silicon supplier.
- Dec 2024: company announced 60 Ah commercial-scale cells; independent shipments, factory yield, per-kWh customer price, lifespan and revenue not disclosed.
Funding history (newest first)
Series B (announcement date; separate legal close date undisclosed)
2026-11-11 $30M- Ferroglobe (lead)
- Access Industries (lead)
- ADS (participant)
- Helios Ventures (participant)
- Pegasus Tech Ventures (participant)
- Mana Ventures (participant)
- Entrada Ventures (participant)
Source: Read source · prnewswire.com
Strategic financing (series label not disclosed)
2025-03-18 $24M- Ferroglobe (participant)
- Zeon Ventures (participant)
- Entrada Ventures (participant)
Source: Read source · coreshell.com
Competitive landscape
Edge: The proposed differentiator is a graphite-free metallurgical silicon anode coupled with non-China cathode sourcing; many rivals focus on silicon-carbon composites. Claimed superior energy density, cost and NDAA eligibility still require independent whole-cell durability, traceability and manufacturing scale checks.
The DOE project's planned 2 GWh electrode capacity and 1.5 GWh cell assembly are future project specifications, not operating or sold output. The company's earlier 4 MWh facility and 60 Ah cells should not be conflated with mass-production. Compare independently verified cycles, supply bill of materials, safety certification, manufacturing cost and shipped capacity before accepting vendor advantage.
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Group14 Technologies direct
SCC55 silicon-carbon anode material; announced an EV-scale materials line in South Korea, versus Coreshell's focus on metallurgical-silicon cells and US supply.
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Sila direct
Titan Silicon silicon-carbon anode material and Moses Lake factory; different formulation, production and customer integration model.
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Traditional graphite/LFP cells incumbent
Mature scalable supply and documented lifetimes; graphite concentration motivates US sourcing diversification.
Market / IPO context
Editorial / static context — not a live quote.
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