27-01-2025
New York-Based Battery Maker IM3NY Out of Cash, Files Bankruptcy
IM3NY, which has sought to become a major US manufacturer of lithium-ion batteries, has filed bankruptcy months after Australian securities regulators accused the firm's majority owner of failing to disclose problems at a New York production facility.
IM3NY and affiliate Imperium3 sought court protection Monday in Delaware with the intention of selling the business or restructuring its finances. The Endicott, New York-based company 'exhausted' all of its current funds after raising more than $70 million from investors and more than $100 million in debt, Imperium3 CEO Lukasz Cianciara said in a court filing.
