Business
Estes Energy advances the state-of-the-art in batteries with $11M Seed round co-led by BMW i Ventures and Fortescue
SAN FRANCISCO, July 23, 2025 (GLOBE NEWSWIRE) -- Estes Energy Solutions, Inc. [Estes], a California-based materials and manufacturing innovator, today announced that it has raised $11 million in Seed capital with investment from BMW i Ventures and Fortescue as co-leads, with additional support from New System Ventures and early investor DCVC. With $20 million raised to date, this latest tranche of capital enable Estes to finalize development of its breakthrough multi-chemistry battery pack platf
About this update from Fortescue Ltd
[{"type":"image","alt":"Estes Energy Solutions, Inc.","displaySize":"","headline":null,"caption":"Estes Energy Solutions, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":172,"url":"https://media.zenfs.com/en/globenewswire.com/b7170342d8905db888acbe4430ed9120"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vojL_QQvP.Nw6nSwqKkK8g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI0MTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/b7170342d8905db888acbe4430ed9120","width":300,"height":172}},"lazy":false},{"type":"text","content":"SAN FRANCISCO, July 23, 2025 (GLOBE NEWSWIRE) -- Estes Energy Solutions, Inc. [Estes], a California-based materials and manufacturing innovator, today announced that it has raised $11 million in Seed capital with investment from BMW i Ventures and Fortescue as co-leads, with additional support from New System Ventures and early investor DCVC. With $20 million raised to date, this latest tranche of capital enable Estes to finalize development of its breakthrough multi-chemistry battery pack platform capable of using either NMC and LFP cells, and establish manufacturing operations in the United States.","length":607,"tagName":"p"},{"type":"text","content":"For the past two decades, battery cell innovations have been the primary driver behind reductions in battery cost and increases in energy density. Estes is charting a new path to drive further improvements at the pack level—one focused on novel materials, advanced manufacturing processes, and architectural optimizations which unlock a new paradigm of performance and economics for high voltage battery packs in the US electrification market.","length":443,"tagName":"p"},{"type":"text","content":"Mass-sensitive applications will benefit from Estes’ NMC pack variant which exceeds 220 Wh/kg gravimetric and 380 Wh/L volumetric energy density, while cost-sensitive applications will be addressed by Estes’ LFP-powered variant. Both systems are suitable for heavy-use applications and are seamlessly interchangeable with one another, offering OEMs the ability to serve broad markets from a single integration effort.","length":417,"tagName":"p"},{"type":"text","content":"“We’re seeing the electrification market open up from the initial wave of passenger car and commercial vehicle growth, expanding rapidly into defense, aviation, marine, rail, port, constr...