Maryland-based business innovating ways for faster charging of electronics
COLUMBIA, Md. (June 10, 2023) – TEDCO, Maryland’s economic engine for technology companies, announced a recent Small State Business Credit Initiative (SSBCI) investment of $325,000 towards AquaLith Advanced Materials, Inc., a Maryland-based company innovating next-generation batteries and battery materials. This SSBCI investment came out of TEDCO’s Seed Funds.
AquaLith Advanced Materials, Inc., based in College Park, Md., is focused on creating high-energy-density, low-cost, and safe materials for lithium-ion batteries. Through their innovative efforts, the company works to improve the current batteries for electric vehicles, thereby improving grid-storage, supporting the environment, lowering costs and increasing supply. This technology was previously recognized by the University of Maryland as the 2020 Innovate Maryland: Invention of the Year.
“TEDCO’s investment in AquaLith is an investment into the future,” said Teddy Gresser, TEDCO’s director, Seed Funds. “The more innovative solutions found for common problems, like energy grid-storage and safety, the better tomorrow will be.”
TEDCO’s SSBCI funds are divided into four programs—the Venture Equity Fund, the Social Impact Equity Fund, the Seed Equity Fund program, and the Venture Capital Limited Partnership Equity program. For more information about our funding opportunities, visit https://www.tedcomd.com/funding.
TEDCO’s Seed Funds are invested in companies showing promise of becoming venture fundable companies, or companies that, through a seed investment, will be sustainable through customer revenue, follow-on funding, or other forms of corporate venture. Find out how to apply here: https://www.tedcomd.com/funding/seed-funds.