Primet Precision Materials

About Primet Precision Materials

Primet Precision Materials, Inc. operated as an advanced materials company with a strategic focus on developing solutions for the lithium-ion battery market. Founded in 2002 by Robert Dobbs, the Ithaca, New York-based firm aimed to address the escalating demand for improved battery performance across a spectrum of applications, from consumer electronics to electric and hybrid vehicles. Although now listed as out of business as of October 2022, the company was a significant player in the nanotechnology and clean energy sectors.

The company's core technology was a patented process named NanoScission®, a method designed to convert bulk raw materials into engineered nanoparticles with high precision. This process works by applying a shear field across a fluid to fracture small particles, allowing for the tailoring of particle characteristics like shape and size. The primary benefit of this technology was a substantial reduction in the manufacturing costs of battery electrode materials. Primet claimed its process could lower both capital and operating expenditures by as much as 85% compared to conventional methods. This was achieved by enabling the use of lower-cost raw materials and consuming significantly less energy. The business model centered on licensing this proprietary technology to battery manufacturers, offering them a path to produce higher-performance, more consistent, and safer batteries at a lower cost. Primet established a pilot manufacturing facility to demonstrate the scalability and consistency of its process to commercial and government partners.

Throughout its operation, Primet secured approximately $20.8 million in funding from various sources, including venture capital firms like Draper Fisher Jurvetson and Cayuga Venture Fund, as well as grants from state entities such as the New York State Energy Research and Development Authority (NYSERDA). These funds supported the scaling of its NanoScission process from lab-scale to continuous manufacturing. A key milestone was its participation in the Imperium3 New York consortium, a project aimed at establishing a lithium-ion battery factory in the Southern Tier of New York to produce more efficient and cost-effective batteries. The company also actively collaborated with research institutions like Cornell University and Binghamton University.