Ultion Technologies, a fully integrated U.S. maker of lithium iron phosphate (LFP) batteries and energy storage systems, has closed its Series A funding round. The investment was led by Utah-based Torus, with participation from Battle Born Venture — Nevada’s state-backed venture capital program overseen by the Governor’s Office of Economic Development — and other aligned investors.
The new capital comes as the U.S. works to strengthen its domestic battery supply, with over 70% of global battery production currently based in Asia and 90% of processing happening outside the country. Ultion’s Nevada-made, commercially proven LFP batteries aim to reduce this dependency and bolster supply chain resilience.
Ultion’s mission addresses what it calls a “critical battery supply chain vulnerability,” offering American-made batteries that match imported alternatives on performance and cost — while supporting U.S. jobs and security.
“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.
Investor and customer Nate Walkingshaw, co-founder and CEO of Torus, added: “Ultion's proven, domestically produced batteries give us unmatched reliability, shorter lead times and the ability to innovate without international supply chain delays.”
The Series A funding will allow Ultion to expand its production capacity more than fivefold, supporting its goal to fully source materials domestically and create high-quality U.S. manufacturing jobs. Its Nevada facility already uses a predominantly domestic supply chain and produces advanced LFP batteries at scale.
Wood Mackenzie forecasts over $1.2 trillion in global battery energy storage investments by 2034 to support renewable energy. Without a strong domestic manufacturing base, much of this value risks flowing overseas. Ultion sees itself as uniquely positioned to keep that value — and expertise — in the U.S.
Founded by Dr. Stoker and his core team, Ultion brings decades of experience building lithium battery factories around the world — including in China, Finland, Ireland, and the U.S. Together, they have established six early lithium battery plants globally and now focus their expertise on building an integrated U.S. battery ecosystem.
Headquartered in Nevada, Ultion delivers high-performance LFP battery systems for grid storage, medical, industrial, and defense and aerospace applications. Its vertical integration and focus on U.S. manufacturing enable superior quality, faster delivery, and full supply chain control.
Torus, the lead investor, is known for its full-stack energy storage solutions that combine storage, generation, and management in one platform. Based in Utah, Torus serves utilities, industrial facilities, and defense installations.
Other backers include Battle Born Venture and several mission-aligned investors who share Ultion’s vision of strengthening America’s energy independence.
