When the Michigan SBDC Technology Team first met with Dr. Xiaohong (Shawn) Gayden, her company, Intecells, was entirely focused on R&D for a unique approach to solid-state battery manufacturing. Once proof of concept was achieved in the lab, the Tech Team was engaged to help with translating the science into commercialization and financial plan.
The team at Intecells is working to transform the manufacturing process for Li-ion batteries to increase energy density, eliminate safety concerns, and cut the cost of battery production in half. Projections suggest impressive cost-savings and exciting opportunities for the technology in the market.
Michigan SBDC Tech Team consultant Robert Honeyman met with Dr. Gayden to add a layer of economics and end-user awareness to her plan, bridging the gap between Intecells and potential investors and customers. Honeyman and his team members worked closely with Dr. Gayden to help transform the technical understanding of the technology into commercial terms and metrics and to develop formal financial projections in support of the Series A raise.
“The SBDC Technology Team truly made a difference at the onset of creating sustained success for startups like us,” says Dr. Gayden. “Through our partnership, I clearly see why Michigan is the best place to start and grow a business.”
Intecells raised $2 million in a Series A round in May, 2019. The company is among a group of selected companies for a $6.2 million DOE research award for promising technology advances for batteries, with a final decision expected in January 2020. The first generation manufacturing equipment is currently under development with initial commercial delivery targeted for late 2020.