Startup · United States
ION Storage Systems
HQ Beltsville, MarylandFounded 201751-200 employeesUpdated
We are builders and problem-solvers committed to delivering solid-state battery systems that scale—from pilot lines to full production.
Federal Obligations by Year (All USAspending, as Reported at the Time)
| Fiscal year | Direct: assistance | Direct: contracts | Total |
|---|---|---|---|
| FY2026 (partial) | $0 | — | $0 |
| FY2025 | $0 | $0 | $0 |
| FY2024 | $21.1M | — | $21.1M |
| FY2023 | $200K | — | $200K |
| FY2021 | — | $2.1M | $2.1M |
Direct is the company's own reviewed UEIs. Reported by USAspending is subsidiaries as reported by USAspending: recipients that name this company as their parent, not yet reviewed ownership.
Directly matched recipients (up to 12)
UEIs matched to this organization, largest obligations first. Subsidiary recipients are not included in this list; their attributed obligations can appear in the company totals above.
- ION STORAGE SYSTEMS, INC. · JJTZLGTS4W36 · $23.4M
Each action is credited by the ownership basis shown in its column. Reported-parent rows count for ION Storage Systems only for the period a subsidiary reported ION Storage Systems as its parent; reviewed links follow their reviewed dates. Net of de-obligations; these are obligations, not ceilings. They come from the whole USAspending baseline (every recipient size, contracts and assistance) and are a separate view from the curated contract totals on this page. FY2026 and later are partial, as on Markets.
Funding8 rounds · $32.0M
- Equity raised
- $32.0M
- Debt, secondaries & grants
- $31.0M
- Latest
- $2.0MStage undisclosed · Jun 2, 2026
| Announced | Stage | Amount | Valuation | Lead investors | Other investors | Confidence |
|---|---|---|---|---|---|---|
| Jun 2, 2026 | Undisclosed | $2.0M | — | TEDCO | — | Reported |
| Nov 13, 2024 | Debt | $10.0M | — | Leonid Capital Partners | — | Reported |
| Aug 6, 2024 | Grant | $1.0M | — | Maryland Department of Commerce | — | Reported |
| Jul 1, 2024 | Series A | Undisclosed | — | — | — | Speculative |
| Dec 13, 2023 | Series A | Undisclosed | — | — | — | Speculative |
| Jun 7, 2022 | Series A | Undisclosed | — | — | Alumni Ventures, Toyota Ventures | Reported |
| Feb 9, 2022 | Series A | $30.0M | — | Alsop Louie Partners, Clear Creek Investments, VoLo Earth Ventures | — | Reported |
| 2024 | Grant | $20.0M | — | U.S. Department of Energy | — | Reported |
- UndisclosedLed by TEDCO$2.0MJun 2, 2026
- DebtLed by Leonid Capital Partners$10.0MNov 13, 2024
- Grant$1.0MAug 6, 2024
- Series ASpeculativeUndisclosedJul 1, 2024
- Series ASpeculativeUndisclosedDec 13, 2023
- Series AUndisclosedJun 7, 2022
- Series A$30.0MFeb 9, 2022
- GrantLed by U.S. Department of Energy$20.0M2024
Raised counts equity rounds; debt, secondary sales and grants are totaled separately. Amounts in other currencies are converted at the announcement month's average rate. A ~ marks an estimated or converted amount.
Systems1
- CornerstoneA solid-state battery cell.
Newest unveiled first. Systems that belong to a government program link to the program page, where variants, costs and contracts are.
Capabilities1
| Technology | Role | Maturity | TRL | Notes | Confidence |
|---|---|---|---|---|---|
| Power, grids and energy storage | Developer | — | — | classify_sectors run 37, haiku, taxonomy 2026-10-18b: Solid-state battery systems for energy storage, with no defense use stated. | Reported |
- Developerclassify_sectors run 37, haiku, taxonomy 2026-10-18b: Solid-state battery systems for energy storage, with no defense use stated.—Reported
Maturity and TRL describe this organization's work; the field-wide maturity is on each technology's page.
Supply Chain1 facility
Facilities1
| Facility | Kind | Location | Status | Confidence |
|---|---|---|---|---|
| Beltsville headquarters | Headquarters | Beltsville, Maryland, United States | Operating | Confirmed |
- Beltsville headquartersHeadquarters · Beltsville, Maryland, United StatesOperatingConfirmed
People6
| Person | Role |
|---|---|
| Eric Wachsman · LinkedIn ↗ | Founder and Executive Chairman |
| Gregory Hitz · LinkedIn ↗ | Founder and CTO |
| Ben Chiu · LinkedIn ↗ | CFO |
| Jorge Diaz Schneider · LinkedIn ↗ | Chief Executive Officer |
| Ravi Abbineni · LinkedIn ↗ | Chief Financial Officer |
| Ricky Hanna | Chief Executive Officer & Board Director |
Sources16
Show all 16 sources and supporting evidence
Profile2
- 1
ION Storage Systems · Supports Organization · description, Organization · name, Organization · website
“We are builders and problem-solvers committed to delivering solid-state battery systems that scale—from pilot lines to full production.”
- 2
Sixth-Domain · Supports Organization · kind
“{"group": "startups", "id": "7ff0a867-f912-4100-867a-d0f7fa3789dc", "name": "ION Storage Systems"}”
Systems1
- 3
ION Storage Systems · Supports System
“ION Storage Systems Launches “Cornerstone,” Becoming the First Solid State Battery Company to Ship Samples to Consumer Electronics Manufacturers”
Funding9
- 4
TEDCO · Jun 2, 2026 · Supports Funding round · amount
“announced a recent $2 million Venture Funds investment in ION Storage Systems”
- 5
FinSMEs · Nov 13, 2024 · Supports Funding round · amount
“received $10M in debt financing from Leonid Capital Partners”
- 6
Office of Governor Wes Moore · Aug 6, 2024 · Supports Funding round · amount
“ION Storage Systems received a $1 million grant from the Maryland Department of Commerce’s Build Our Future Grant Pilot program”
- 7
AiThority · Jun 14, 2022 · Supports Funding round
“announced the closing of its Series A funding round, exceeding its original target of $30 million”
- 8
Mercom India · Feb 10, 2022 · Supports Funding round · amount
“closed a $30 million Series A funding round”
- 9
VC News Daily · Feb 9, 2022 · Supports Funding round · amount
“announced the initial closing of its $30 million Series A fundraising round led by Clear Creek Investments”
- 10
PitchBook · Supports Funding round, Organization · country, Organization · employee range, Organization · founded year, Organization · linkedin url, Organization · ownership, Organization · x url
“Later Stage VC (Series A3)”
- 11
- 12
Utility Dive · Supports Funding round · amount
“The funding includes $20 million for Ion Storage Systems in Beltsville, Maryland”
Supply chain2
- 13Government recordhttps://api.usaspending.gov/api/v2/recipient/f6045afe-54dc-c80a-60e3-e568c649a93a-R/?year=all
Supports Facility · street address
“12500 BALTIMORE AVE STE D”
- 14
Supports Facility · coordinates
“Census address-range match: 12500 BALTIMORE AVE, BELTSVILLE, MD, 20705; longitude -76.885799979278; latitude 39.061719676616.”
People2
- 15
Crunchbase · Supports Organization · country, Organization · employee range, Organization · hq city, Organization · linkedin url, Role
“country: US”
- 16
LinkedIn · Supports Organization · country, Organization · employee range, Organization · hq city, Organization · hq region, Organization · linkedin url, Role
“country: US”
Each fact on this page is attached to the sources that support it. Archived copies are linked when we keep one.