Hyundai CRADLE, Hyundai Motor Company’s corporate venturing and open innovation business, is investing in Ionic Materials, a privately held battery developer based in Massachusetts, to advance the development of battery technology and improve EV performance with solid-state battery innovation. Ionic Materials is a materials technology company developing advanced materials for high-energy-density batteries that are safer and less expensive than current ones. Using a patented solid polymer material, Ionic Materials enables solid-state batteries that are inherently safe, affordable, high in energy density and operational at room temperature. The special properties of Ionic Materials’ polymer electrolyte also support lithium-ion cells with little to no cobalt in their cathodes. Expected Benefits of Solid-State Batteries: Inherent Safety: Eliminates safety issues with liquid electrolytes Higher Performance: Enables higher energy anodes and cathodes Lower Cost: Reduces battery cost through less expensive chemistries and manufacturing Further advancements made possible by Ionic Materials’ polymer will support additional high-energy and eco-friendly battery chemistries, including lithium metal, lithium sulfur and inexpensive and low-cost rechargeable alkaline batteries.