On October 28, 2024, Innovate Alabama awarded $1 million to Johnson Energy Storage (JES) to fund research in all-solid-state batteries, an alternative to lithium batteries. Founded by former NASA engineer and Tuskegee University alumnus Dr. Lonnie Johnson, JES is among the first companies to receive funding through InvestAL, Innovate Alabama’s new venture capital program made possible by the U.S. Department of the Treasury State Small Business Credit Initiative.
SSBCI is a nearly $10 billion federal program to support small businesses and entrepreneurship in communities across the United States by providing capital and technical assistance. Innovate Alabama uses SSBCI funds to provide direct investments and loans to small businesses and entrepreneurs.
For more information on the award, click here.