Microporous is preparing to start building a new lithium-ion battery separator production plant in Virginia this month, after securing financing for the project.

The Trent Capital Partners-owned firm said the undisclosed financing, confirmed on April 30, is being provided by Trent, and investment firms Eagle Point and Elda River.

With comprehensive financing now in place, construction on the Danville plant is set to begin imminently, Microporous said.

The announcement came nearly 18 months after Microporous pledged to invest $1.35 billion in the new facility over two phases — each phase being around 500,000sq ft.

Danville should support around 65GWh of battery production annually once operating at full capacity.

Microporous said the investment marks a critical step in expanding its ability to serve the rapidly growing demand for energy storage across automotive, industrial and grid applications.

CEO John Reeves said: “This is a pivotal milestone for Microporous as we move from planning into execution… we are accelerating our expansion and strengthening our ability to deliver high-performance separator solutions for the lithium ion battery market.”

Trent managing partner Ray Desrocher said Danville will represent a significant augmentation of Microporous’s existing Piney Flats li-ion separator production capacity in Tennessee.

Elda River partner and co-founder Craig Rohr said: “Establishing a state-of-the-art facility in Danville represents a significant advancement in re-shoring critical battery component production and contributing to the revitalization of US industrial capabilities.”

Microporous marked the formal opening of a new li-ion separator manufacturing line in Tennessee in 2025. The line supports the manufacture of battery separators for EVs and backup power.

Batteries International reported earlier this year that Microporous was considering price increases amid rising energy costs and market volatility sparked by the conflict in Iran and wider Middle East.