Fundraising Fox

Natrion

Albany, US · Founded 2018 · Delaware corporation · 7 known investors

Natrion develops solid-state battery materials, including a US-made ceramic-polymer "active separator" for lithium-ion and Li-metal cells.

Founders & leadership

Natrion was founded in 2018 by Alexander S Kosyakov, Thomas Rouffiac, and Alex Kosyakov.

AS
Alexander S KosyakovCo-founder
TR
Thomas RouffiacCofounder30 Under 30 2024
AK
Alex KosyakovCofounder30 Under 30 2024

Board

MG
Manas GosaviBoard director
TH
Terry Howertonin𝕏Board directorFounder and CEO at TechNexus Venture Collaborative
TA
Thomas A RouffiacBoard director

Investors · 7

Reported raises · per SEC filings

Form D private placements

$12.5M disclosed across 5 of 6 rounds · 2020–2025

$4.6MraisedApr 2026 · 11 investors · Other Energy
Rule 506(c)
Officers, directors & promoters on the filing
  • Alexander S KosyakovExecutive Officer, Director
  • Manas GosaviDirector
  • Terry HowertonDirector
Offering amount
$4.6M
Amount sold
$4.6M
Minimum investment
$1.7K
First sale
Nov 2025
Incorporated
Corporation, Delaware
Federal exemptions
06c
Full filing on SEC EDGAR ↗
$4.4MraisedDec 2024 · 11 investors · Other Energy
Rule 506(c)
Officers, directors & promoters on the filing
  • Manas GosaviDirector
  • Terry HowertonDirector
  • Thomas A RouffiacDirector
  • Alexander S KosyakovExecutive Officer, Director
Offering amount
$4.4M
Amount sold
$4.4M
Minimum investment
$20K
First sale
Mar 2024
Incorporated
Corporation, Delaware
Federal exemptions
06c
Full filing on SEC EDGAR ↗
$3.5MraisedDec 2023 · 39 investors · Other Energy
Rule 506(c)
Officers, directors & promoters on the filing
  • Alexander S KosyakovExecutive Officer
  • Terry HowertonDirector
  • Thomas A RouffiacExecutive Officer
Offering amount
$3.5M
Amount sold
$3.5M
Minimum investment
$1K
First sale
Aug 2020
Incorporated
Corporation, Delaware
Federal exemptions
06c
Full filing on SEC EDGAR ↗
$18.3KraisedNov 2020 · 3 investors · Other Energy
Rule 506(b)
Officers, directors & promoters on the filing
  • Alexander S KosyakovExecutive Officer
  • Thomas RouffiacExecutive Officer
Offering amount
$1.3M
Amount sold
$18.3K
Minimum investment
$1K
First sale
Aug 2020
Incorporated
Limited Liability Company, Delaware, 2018
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$11KraisedSep 2020 · 2 investors · Other Energy
Rule 506(b)
Officers, directors & promoters on the filing
  • Thomas RouffiacExecutive Officer
  • Alexander S KosyakovExecutive Officer
Offering amount
$1.3M
Amount sold
$11K
Minimum investment
$1K
First sale
Aug 2020
Incorporated
Limited Liability Company, Delaware, 2018
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

Natrion is a battery research, development and materials company founded in 2018 out of the University of Illinois at Urbana-Champaign and Indiana University by Alex Kosyakov and Thomas Rouffiac. Its core technology is the patented Lithium Solid Ionic Composite (LISIC), a polymer-ceramic hybrid solid electrolyte intended to replace the flammable liquid electrolyte components used in conventional lithium batteries. The company develops solid-state lithium-ion and sodium-ion battery components for electric mobility and defense applications.

Natrion's commercial product line centers on the Active Separator, a LISIC-based separator manufactured in the United States that the company states is directly swappable with legacy separators on gigascale Li-ion cell production lines. Adjacent products include the X-12 Li-metal anode, the M3 non-carbonate anolyte/wetting agent, liquid-free LISIC laminate catholyte, and coatings for high-nickel NMC cathodes; the components are described as compatible with a range of anode and cathode chemistries. Natrion positions the Active Separator both as an improvement to cells already produced in gigafactories and as an enabling component for next-generation Li-metal and solid-state chemistries.

The company operates R&D and production sites in Binghamton, New York, Champaign, Illinois, and Buffalo, New York, and describes partnerships with US manufacturers and the US Department of Defense.

Founding story

Natrion was founded in 2018 by Alex Kosyakov and Thomas Rouffiac, starting out of the University of Illinois at Urbana-Champaign and Indiana University. Rather than designing a new battery from scratch, the founders focused on innovating at the cell-component level so new materials could be adopted using existing manufacturing equipment, consulting with original equipment manufacturers from the outset.

Business model

Natrion supplies battery cell components — separators, electrolytes, anode and cathode materials — to battery manufacturers and OEMs rather than producing complete battery packs, designing its materials as one-to-one drop-in replacements that require no new machinery or process changes at customer plants. It has also funded development through US government research contracts and awards, including Department of Defense, US Navy STTR, US Air Force Phase I and Phase II contracts, and an NSF award.

Traction

Natrion reports multiple US Department of Defense contracts, a $200,000 US Navy STTR contract, US Air Force Phase I and Phase II contracts, an NSF award and voucher-program selection, a 2024 Edison Award Gold win with a 430+ Wh/kg milestone, finalist status in the LG Energy Solution Battery Challenge 2022, a strategic collaboration MOU with Soelect, a new Western New York production facility, and partnerships with US manufacturers. At the time of its 2022 seed round, its investor stated the company had secured commercial traction in the automotive space, and the company planned to build in-house pouch cell prototyping at its Champaign and Binghamton sites with a possible pilot production line as early as 2023.

Latest developments

Company news items list the launch of new battery product lines for uncrewed systems, a strategic collaboration MOU signed with Soelect, the opening of a new production facility in Western New York, new board appointments to support scaling of its US-made battery separator, and the launch of what it describes as the first active battery separator made in the US.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Natrion describes itself as a solid-state battery technology developer pursuing what the industry treats as "holy grail" chemistries (solid-state and lithium-metal) through scalable, drop-in components rather than wholly new cell designs. Its stated emphasis is onshore, domestically manufactured battery materials and supply chains as an alternative to overseas dependence.

Natrion's materials are designed as one-to-one replacements that are wholly swappable with legacy separators on existing gigascale Li-ion production lines, developed in consultation with OEMs to match the machinery and techniques already in use, and targeted at cost parity with existing non-solid-state materials so manufacturers avoid equipment upgrades. The company also states its performance results are demonstrated in end-use-relevant environments rather than specialized lab conditions.

Technology

The company's platform is LISIC, a first-of-its-kind polymer-ceramic hybrid solid electrolyte that replaces liquid electrolyte components and drops into existing battery manufacturing lines. Products include the LISIC-based Active Separator, the X-12 Li-metal anode, the M3 proprietary non-carbonate anolyte blend, a liquid-free LISIC laminate catholyte, and coatings for high-nickel NMC cathodes, and are compatible with graphite, silicon, Li-metal, LTO anodes and NMC, LFP, LMR, LMFP, LCO or LNMO cathodes. Natrion claims over 50% improvement in specific energy, 20–30 minute charging without long-term performance loss, mitigation of common degradation mechanisms, a thermal stability range of -50 °C to 250 °C (cited elsewhere as -40 °C to 230 °C for Active Separator-based Li-metal cells versus -15 °C to 60 °C for state-of-the-art lithium-ion), benign failure response without thermal runaway, and 450+ Wh/kg after 15 minutes of charging versus 300 Wh/kg after one hour for incumbent lithium-ion.

Go-to-market

Li-ion cell manufacturers and automotive/battery OEMs, plus defense customers; stated end markets include electric mobility, grid energy storage, defense applications and uncrewed systems.

Geography

US-based, with sites listed at 120 Hawley St, Binghamton, New York; 60 Hazelwood Dr, Champaign, Illinois; and 575 Ludwig Ave, Buffalo, New York. The 2022 announcement described the company as headquartered in Binghamton, New York with operations in Champaign, Illinois.

History

Founded in 2018, Natrion first funded development through US government work, including a $200,000 Small Business Technology Transfer Research contract from the US Naval Air Warfare Center Weapons Division and additional Department of Defense contracts. In May 2022 it raised a $2 million oversubscribed seed round, its first major private capital raise, and was named a finalist in the LG Energy Solution Battery Challenge 2022. Subsequent milestones announced by the company include US Air Force Phase I and Phase II contracts, a 2024 Edison Award Gold win alongside a 430+ Wh/kg performance milestone, selection for a voucher program and an NSF award with progress on a UN38.3-compliant Li-metal cell, the launch of the first active battery separator made in the US, new board appointments, a strategic collaboration MOU with Soelect, a new production facility in Western New York, and new battery product lines for uncrewed systems.

Risks & controversies

","market">"

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Demonstrated energy density milestoneJan 2024430 Wh/kg
Fast-charge timeJan 202620-30 minutes
Specific energy after 15-minute charge (Active Separator-based Li-metal)Jan 2026450 Wh/kg
Specific energy improvement vs. incumbent cellsJan 202650%

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Non-dilutive funding · 2 SBIR/STTR awards

Federal grants — no equity taken
AgencyPhaseYearAmount
U.S. NavyNavyPhase ISTTR2022$139.4K
U.S. Air ForceAir ForcePhase I2021$48.1K

Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.

Timeline · 11

launches, deals, and filings
Jan 2025
Natrion opens new production facility in Western New York

source ↗

Jan 2025
New board appointments to scale US-made battery separator

source ↗

Jan 2025
Soelect and Natrion sign strategic collaboration MOU

source ↗

Jan 2025
Launch of first active battery separator made in the US

source ↗

Jan 2025
Natrion launches new battery product lines for uncrewed systems

source ↗

Jan 2024
Named 2024 Edison Award Gold Winner and reports 430+ Wh/kg milestone

source ↗

Jan 2024
Selected for US Air Force Phase I and Phase II contracts

source ↗

Jan 2024
Selected for voucher program and NSF award; advances UN38.3 Li-metal cell

source ↗

May 2022
Natrion secures $2M seed round led by TechNexus, with Mark Cuban participating

Oversubscribed $2 million seed round, the company's first major private capital raise, led by Chicago-based TechNexus Venture Collaborative with participation from Tamarack Global, Mark Cuban, Illinois Ventures and other private investors. Proceeds were earmarked for in-house pouch cell prototyping capabilities at the Champaign, IL and Binghamton, NY R&D centers.

$2M source ↗

Jan 2022
Named finalist in LG Energy Solution Battery Challenge 2022

source ↗

Jan 2022
$200,000 STTR contract from US Naval Air Warfare Center Weapons Division

Prior to its seed round, Natrion received a $200,000 Small Business Technology Transfer Research (STTR) contract from the U.S. Naval Air Warfare Center Weapons Division, alongside multiple other U.S. Department of Defense contracts.

$200K source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
NatrionDelaware

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Natrion do?
Natrion develops solid-state battery materials, including a US-made ceramic-polymer "active separator" for lithium-ion and Li-metal cells.
Who founded Natrion?
Natrion was founded by Alexander S Kosyakov, Thomas Rouffiac, Alex Kosyakov in 2018.
Who are Natrion's investors?
Natrion's investors include Cool Climate Collective, Illinois Ventures, IU Ventures, LG Technology Ventures, Tamarack Global, Unruly Capital, TechNexus Venture Collaborative.
How much funding has Natrion raised?
Natrion has disclosed $12.5M raised across 5 of its 6 known rounds.
Where is Natrion headquartered?
Natrion is headquartered in Albany, US.