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Imperium3 received a charge Wednesday, one it hopes will power the economy in the Village of Endicott and Greater Binghamton for years to come. 
Imperium3 New York Inc. (iM3NY) announced it has reached a critical funding threshold that will allow the lithium-ion battery manufacturer to build out its first Gigafactory, with production expected in early 2022.
iM3NY has secured $85 million in funding, including a $50 million senior secured term loan from Riverstone Credit Partners and $35 million of equity funding. Magnis Energy Technologies invested $23.6 million in equity earlier this year. iM3NY also has $230 million of manufacturing assets in place, and the company said it is now “fully funded” with a capacity to generate over 1 gigawatt-hour of high-grade lithium-ion battery cells per year. The build-out of its first Gigafactory in the Huron Campus in Endicott, part of the former IBM campus, has already begun. ....

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