Brutal times for the US battery industry

The US battery industry is facing a severe downturn in 2026, with investors pulling back and companies like 24M Technologies (once valued over $1 billion) shutting down, alongside failures of Natron Energy and Ample. Many startups pursuing novel chemistries to compete with lithium-ion batteries are struggling as funding dries up. 24M had developed a simpler manufacturing process and thicker electrode layers for improved energy density, but even innovations compatible with existing technology couldn't survive the hostile investment climate.