24M Technologies

24M Technologies was an MIT-spinout battery company that developed a proprietary SemiSolid™ electrode manufacturing process designed to dramatically reduce the cost and complexity of lithium-ion battery production. The company pursued a licensing model, partnering with global manufacturers including Kyocera and FREYR Battery to deploy its technology. Once valued over $1 billion, 24M reportedly began winding down operations in 2026, widely cited as a cautionary symbol of the challenges facing US battery startups competing against dominant Chinese manufacturers.