SiLi-ion, Inc.

What they do & why the LACI Cleantech Debt Fund invested

Founded by plasma physicist Dr. Lorenzo Mangolini and led by CEO Dr. Mark R. Hatch, SiLi-ion Inc. is a material science company that has created a silicon additive for batteries, which is shown to improve battery capacity and efficiency with lower emissions in its production. SiLi-ion Inc.’s silicon additive can be developed by recycling degraded solar panels, reducing waste in landfills. According to SiLi-ion Inc., the material is easy to manufacture and cost-effective; the material can be used without retooling or modifications to existing battery production processes.

The SiLi-ion technology allows manufacturers to develop batteries to meet increasing performance needs in the drone, e-bike, and electric vehicle market segments.

At the time of investment, the company was in the research and development phase of its business growth. Funds from the loan will be used as working capital and to prepay expenses to be reimbursed by grants from the Department of Energy’s Small Business Innovation Research program and CalSEED.

“The LACI Cleantech Debt Fund was the perfect financial solution for us,” said Mark. “We needed a way to bridge our receivables in order to accelerate our development.”

Managed by Mission Driven Finance, the LACI Cleantech Debt Fund invests in companies working on solving challenges related to climate change.