Coreshell Technologies announced the close of a $30 million Series B financing round co-led by Ferroglobe PLC and Access Industries, disclosed via press release on November 11, 2026.

Key Highlights

  • $30 million raised: Coreshell Technologies closed a Series B financing round co-led by Ferroglobe PLC (NASDAQ:GSM) and Access Industries.
  • Additional investors: ADS, Helios Ventures, Pegasus Tech Ventures, Mana Ventures, and Entrada Ventures participated in the round.
  • Prior DOE grant: The round builds on a $50 million grant from the Department of Energy awarded in August, which is being used to build the first giga-scale factory for cells using metallurgical silicon (MGS) anodes.
  • Graphite replacement: Coreshell's technology replaces conventional graphite with metallurgical silicon (MGS), which the company described as a widely available, low-cost material produced in the U.S.
  • Cathode supply: An agreement with L&F Co., Ltd is cited as providing long-term access to lithium, according to the announcement.
  • Defense focus: ADS, identified in the release as the top supplier to the Defense Logistics Agency, participated in the round and cited the relevance of domestic battery supply chains to uncrewed defense systems.

Ferroglobe and Access Industries Back Coreshell's Domestic Battery Supply Chain Push

According to the announcement, Coreshell Technologies closed a $30 million Series B financing round co-led by Ferroglobe PLC (NASDAQ:GSM) and Access Industries. The other participating investors named in the release are ADS, Helios Ventures, Pegasus Tech Ventures, Mana Ventures, and Entrada Ventures. The company disclosed that the funds are intended to accelerate commercialization and scale-up of its battery technology, support expansion of manufacturing and customer programs, and advance its stated goal of eliminating dependence on China for critical battery materials across both the anode and cathode supply chains.

The release noted that the financing follows a $50 million Department of Energy grant received in August, which Coreshell stated it is using to build "the first giga-scale factory for cells using MGS anodes." The company's technology replaces conventional graphite with metallurgical silicon (MGS), described in the release as a raw, commercially produced form of silicon distinct from "the expensive, silane-based materials used in other silicon-anode cells." The release cited that "more than 90 percent of the world's graphite is processed in China" and noted that China tightened controls on graphite exports in 2023.

Jonathan Tan, CEO and Co-Founder of Coreshell Technologies, was quoted in the release stating that the financing "gives us the resources to scale a battery supply chain that eliminates dependence on China for critical materials while delivering advantages in performance and cost." On the cathode side, the company referenced an agreement with L&F Co., Ltd as providing long-term access to lithium. The release also pointed to federal sourcing requirements, including those under the National Defense Authorization Act (NDAA), as factors driving demand among U.S. manufacturers in defense, automotive, and data center sectors.

What Was Disclosed

Coreshell Technologies disclosed the close of a $30 million Series B round co-led by Ferroglobe PLC and Access Industries, building on a prior $50 million DOE grant, with proceeds directed toward commercializing its metallurgical silicon anode battery technology and expanding domestic manufacturing.