SERES Completes Transition of Battery Technology Division Into Independent Company
SANTA CLARA, Calif., January 13, 2020 (Newswire.com) - SERES, an automotive technology company with operations in the USA, China, and Japan, announced the successful transition of its Battery Technology division into TeraWatt Technology Inc., effective on Jan. 1, 2020.
Members of the former SERES division will continue the development of solid-state battery technologies as employees of TeraWatt Technology, under the leadership of Co-Founder and CEO Dr. Ken Ogata. A top-tier U.S.-based venture capital firm has led an initial round of venture investment to fund the technology and business development and cell production at TeraWatt Technology. SERES retains a minority, non-controlling equity stake. SERES CTO Dr. Yifan Tang will also serve as Co-founding Advisor and facilitate collaboration with the newly launched company.
"SERES came to Silicon Valley to incubate promising technologies that help automakers scale electric vehicle production and remove barriers to mass adoption," said Tang. "As SERES focuses on growing its core electric powertrain business, it is also unlocking business value from technical achievements in battery cell development and autonomous driving. As an independent company, TeraWatt Technology can expand its revenue potential by meeting the demand for safe, high-energy density, and low-cost solid-state batteries in diverse electrified applications beyond automotive."
SF Motors Inc. (d.b.a SERES) develops and markets advanced technologies for vehicle electrification, including high-performance battery systems, electric drive units, domain controllers, and vehicle connectivity solutions for global automotive OEMs. SERES technologies will also power the upcoming SERES SF5, a luxury SUV crossover EV jointly developed with its China-based parent company Chongqing Sokon Industry Group Co., Ltd.
About TeraWatt Technology
TeraWatt Technology Inc., a spinoff of SF Motors Inc. (d.b.a SERES), develops ultra-high energy density solid-state batteries for diverse electrified applications. TeraWatt Technology Inc. operates from its Santa Clara headquarters, along with its subsidiary TeraWatt Technology K.K. in Tokyo, Japan.