Founded Year

2010

Stage

Series H | Alive

Total Raised

$253.83M

Valuation

$0000 

Last Raised

$87M | 10 mos ago

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

+24 points in the past 30 days

About 24M Technologies

24M Technologies focuses on the technology sector, specifically in the area of energy storage. The company's main offering is a revolutionary lithium-ion battery cell manufacturing process that aims to provide a simpler, more reliable, and safer production method. Its technology is primarily targeted at sectors such as electric mobility, aerospace, stationary power, and lead-acid replacement. It was founded in 2010 and is based in Cambridge, Massachusetts.

Headquarters Location

130 Brookine Street

Cambridge, Massachusetts, 02139,

United States

617.553.1018

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ESPs containing 24M Technologies

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Industrials / Energy Tech

The battery energy storage system (BESS) providers market offers grid-scale energy storage solutions that enable renewable energy integration, grid stability, and demand response services. These providers deliver comprehensive battery storage systems including lithium-ion, flow batteries, and other advanced technologies designed for utility-scale applications. Key features include modular and scal…

24M Technologies named as Highflier among 15 other companies, including Fluence, Eos Energy Storage, and FlexGen.

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Research containing 24M Technologies

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned 24M Technologies in 3 CB Insights research briefs, most recently on Nov 7, 2024.

Expert Collections containing 24M Technologies

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

24M Technologies is included in 4 Expert Collections, including Auto Tech.

A

Auto Tech

3,978 items

Companies working on automotive technology, which includes vehicle connectivity, autonomous driving technology, and electric vehicle technology. This includes EV manufacturers, autonomous driving developers, and companies supporting the rise of the software-defined vehicles.

U

Unicorns- Billion Dollar Startups

1,276 items

G

Grid and Utility

2,754 items

Companies that are developing and implementing new technologies to optimize the grid and utility sector. This includes, but is not limited to, distributed energy resources, infrastructure security, utility asset management, grid inspection, energy efficiency, grid storage, etc.

E

Energy Storage

5,350 items

Companies in the Energy Storage space, including those developing and manufacturing energy storage solutions such as lithium-ion batteries, solid-state batteries, and related software for battery management.

24M Technologies Patents

24M Technologies has filed 161 patents.

The 3 most popular patent topics include:

  • electrochemistry
  • fuel cells
  • capacitors
patents chart

Application Date

Grant Date

Title

Related Topics

Status

9/25/2023

4/8/2025

Electrochemistry, Lithium-ion batteries, Rechargeable batteries, Capacitors, Battery types

Grant

Application Date

9/25/2023

Grant Date

4/8/2025

Title

Related Topics

Electrochemistry, Lithium-ion batteries, Rechargeable batteries, Capacitors, Battery types

Status

Grant

Latest 24M Technologies News

Ulrik Grape on 24M’s Battery Breakthroughs and Vision

Jul 8, 2025

It’s not every day you meet someone who’s been shaping the future of energy since the era of brick-sized mobile phones. But Ulrik Grape isn’t just a cleantech veteran – he’s one of those rare voices who’s seen the battery revolution from the inside, long before it became mainstream. We caught up with him to talk about his unlikely start in the industry, the lessons he picked up on merchant ships, and why he believes going electric is one of the most urgent steps we need to take for the planet. What followed was a conversation packed with insight, candour and the kind of long-haul perspective you just can’t fake. Ulrik Grape, your career spans continents and decades in energy tech. What was the spark that first got you excited about cleantech – and what’s kept you in the game all these years? Ulrik Grape: I fell into the battery world back in 1995 when I was pitched on a battery start up in Denmark. Back then you could see the proliferation of mobile phones and laptop computers and they needed batteries that could last much longer and were more durable. EVs were around but on a very small scale, but it all made sense to me that electrically powering products was a better way to go also from an environmental point of view. What has kept me in it through these 30 years is that it is a fascinating industry with endless opportunities as we have seen with the tremendous growth and improvements in performances of the technology. And the belief that going electric is one of the most critical steps we need to take to improve the environmental situation on this planet. Let’s rewind a little. Can you recall a specific lesson or moment from your childhood that still shapes how you lead or make decisions today? Ulrik Grape: Now you are really challenging me as you are asking me to go back half a century or so, but perhaps two things come to mind. I worked on a merchant ship in my early 20s with people from many different backgrounds to my own, economically, socially and ethnically. It taught me the importance of beauty and the value of diversity. Ulrik Grape 24M is challenging the status quo in battery manufacturing. What’s been the most difficult hurdle so far – and how did you personally push through it? Ulrik Grape: A hurdle is improving the willingness of Western OEMs to move fast, accept a calculated level of risk and adopt new technologies that most often are invented here in the West, especially compared to the pace in China. I pushed through this by demonstrating my own personal belief in the technology married with good, quality data from our team of talented technical experts and ensuring we deliver on what we promise. The battery space is full of hype – from solid-state promises to gigafactory announcements. What’s one myth or misconception you’d love to see retired for good? Ulrik Grape: That new entrants into the battery field believe that they just need to come with a new technology and they will succeed. Early on I had some good mentors and I remember one of them telling me that a rechargeable battery is the second most complicated electrochemical system on the planet. My question in return was what is the most complicated system? To which my mentor answered the human being. Whether that is truly correct or not is not really important, but it puts things in perspective. These are complicated systems that we work with, and it takes time to get it right. Sustainability is more than just a line item at 24M – it seems built into your whole process. What does sustainability personally mean to you, beyond just emissions targets and ESG reports? Yes, sustainability is important to and a focus for 24M. On a personal level it means reducing my own carbon footprint and thinking more about everything I do, e.g. exchanging flights with trains whenever possible, planting trees and plants, and eating more responsibly. Where do you see 24M – and yourself – in five years? And how much of that vision is clearly charted versus still evolving? Ulrik Grape: For 24M, in five years I envisage our technologies adopted, in mass production and in products (EVs, stationary storage, etc.). Whether the company remains independent or part of another entity is hard to predict. I would expect 24M to continue to innovate. For myself, well, I will be 70 years old and expect to still be active as I believe that staying engaged is good for the brain, soul and body – but I’ll be living life at a slightly more relaxed pace. Ulrik Grape let’s talk geopolitics for a moment. How much do US and global policy shifts – trade, subsidies, supply chains – impact your long-term strategy? Or do you mostly focus on building and executing regardless of political headwinds? Ulrik Grape: Geopolitical dynamics absolutely shape our strategic thinking, but our business model gives us unique resilience. As a technology licensing company with a global footprint across the US, Europe, and Asia, we’re inherently positioned to adapt to policy shifts rather than be derailed by them. And finally – when you’re not immersed in cathodes, scaling strategies or boardrooms, how do you unwind? What keeps you grounded outside of work? Ulrik Grape: Nature (going for a hike), my dog and listening to music. Nature has created and creates the most beautiful things if one wants to listen, see and smell. My dog teaches me about unconditional love. Music can calm you and set you free. Photo/Source: 24M Technologies

24M Technologies Frequently Asked Questions (FAQ)

  • When was 24M Technologies founded?

    24M Technologies was founded in 2010.

  • Where is 24M Technologies's headquarters?

    24M Technologies's headquarters is located at 130 Brookine Street, Cambridge.

  • What is 24M Technologies's latest funding round?

    24M Technologies's latest funding round is Series H.

  • How much did 24M Technologies raise?

    24M Technologies raised a total of $253.83M.

  • Who are the investors of 24M Technologies?

    Investors of 24M Technologies include KYOCERA, Asahi Kasei, Mitsui O.S.K. Lines, Nuovo+, Dai Nippon Printing and 12 more.

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