Next-generation battery manufacturer BEI Corp has closed a KRW 30 billion Series B financing round, equivalent to approximately US$20 million, to scale the production and deployment of its commercially available anode-free lithium metal batteries.
The capital injection will support manufacturing scale-up, customer qualification programs, and commercial expansion across Korea, the United States, and Europe. Financial backers participating in the round include the Korea Development Bank, Premier Partners, SJ Investment Partners, In-Q-Tel (IQT), ES Investor, Welcome Ventures, and KC Investment Partners. Strategic investors include Kumho Petrochemical, Japan’s Musashi Seimitsu, Netherlands-based Tulip Tech, AVACO, and Ecopro Partners.
Designed to address the performance limitations of conventional lithium-ion chemistries in weight, endurance, power delivery, and extreme operating environments, BEI’s current-generation cells deliver energy densities exceeding 500 Wh/kg. Independent testing by UK battery analytics firm About:Energy confirmed leading energy density and power characteristics, while real-world cold-weather capability was recently demonstrated at the Griffin Tech Demo days in Finland, where a BEI-powered drone completed a flight lasting over 30 minutes in -26°C temperatures.
More than 30 global Unmanned Aerial Vehicle (UAV) customers are currently evaluating or deploying BEI’s technology, with cells already integrated into operational small unmanned systems. Beyond commercial applications, the funding supports secure sourcing and supply-chain resilience aligned with U.S. National Defense Authorization Act (NDAA) procurement considerations for defense and security platforms.
Will Howerton, Managing Director at IQT, commented, “Battery endurance and power are hard constraints on unmanned and autonomous platforms today. BEI is closing that gap with technology that’s commercially available now and sourced in a way that supports supply-chain resilience for the U.S. and its allies, and we are pleased to support the company’s growth.”
In Europe, BEI is expanding its collaboration with battery pack manufacturer and system integrator Tulip Tech to build integrated, field-ready systems for robotics, defense, and electric mobility platforms.
Changdeuck Bae, CEO of BEI, stated, “This Series B financing validates BEI’s technology, commercial readiness, and global market opportunity. Customers are looking for batteries that deliver high energy density, high power, and reliable performance under real operating conditions. BEI’s advantage is that our current-generation AFLMB cells are commercially available today and are already being validated by customers in demanding applications.
“With this funding, we will accelerate production scale-up, deepen customer programs, and expand strategic partnerships across Korea, the United States, and Europe. Our goal is to become a trusted supplier of next-generation batteries for markets where performance, reliability, and supply-chain resilience matter.”
The company continues to advance its technology roadmap toward future cell generations targeting energy densities greater than 600 Wh/kg. BEI was also recently named a “Next Innovator” at the NextRise 2026 conference in Seoul.
