Mitra Chem adds Elan Frantz to its Board of Directors along with securing Series B funding led by Alpha Wave Ventures

– USA, CA –  Mitra Future Technologies, Inc., a pioneering innovator in North American lithium-ion battery materials, announced the appointment of Elan Frantz to its Board of Directors as part of the Series B funding round led by Alpha Wave Ventures.

Alpha Wave joins Mitra Chem amidst several breakthroughs, with Mitra Chem recently announcing its successful synthesis of multi-ton Lithium Iron Phosphate (LFP) cathode powder samples that meet industry-leading electric vehicle (EV) specifications. Mitra Chem aims to achieve mass production of their iron-rich cathodes by 2026, paving the way for widespread adoption of next-generation, IRA-compliant battery technologies.

“Mitra Chem has the right approach at the right time, and I am incredibly excited to join their Board,” said Elan Frantz. “They’ve proven themselves as great operators in the space and I’m really looking forward to partnering with their management team. Together we’re going to continue to pave the way for battery materials innovation in the battery industry.”

About Mitra Chem

Mitra Chem is building the first U.S. Inflation Reduction Act-compliant lithium-ion battery materials product company that shortens the lab-to-production timeline by over 90%. Lithium-ion batteries are the key platform technology enabling electrification in transportation, and consumer electronics, along with residential, commercial, and grid-scale energy storage. Mitra Chem’s first product category is iron-based cathodes for Western battery applications. Mitra Chem takes cathode products from lab to industrial scale faster than the competition by leveraging an in-house artificial intelligence technology advantage to dramatically shorten the R&D timeline. The company’s goal is to transform the cathode from a specialty chemical to a platform technology that differentiates cell performance by end application. In the short term, the company remains focused on scaling IRA-compliant LFP and LMFP cathodes for the growing U.S. market.

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