Latest news with #LukaszCianciara
Yahoo
10-03-2025
- Business
- Yahoo
iM3NY rehires several workers amidst bankruptcy filing
ENDICOTT, N.Y. (WIVT/WBGH) – Endicott's lithium-ion battery manufacturer is making progress as it works its way through bankruptcy. During a conference call with creditors on Monday, iM3NY CEO Lukasz Cianciara said the company has rehired a handful of workers that were let go back In October in order to keep its production line on the Huron Campus operational. iM3NY and its affiliate Imperium 3, filed for chapter 11 bankruptcy in January because of a liquidity crunch as it ran out of funding while still trying to commercialize its batteries which are intended for electric vehicles and energy storage. Cianciara says iM3 currently has 25 workers and $1.8 million in cash on hand. The company also extended a deadline to Monday for the sale of its assets with the assistance of Hilco Corporate Finance. News 34 has reached out to Cianciara and company co-founder Shailesh Upreti for additional information about their plans moving forward and has not received a reply. Amici Pub and Pizzeria closes after 14 years in business WATCH: DOCCS strike update Business of the Week: American Red Cross New York Working Families Party supporting Miles Burnett for Binghamton Mayor Binghamton University under investigation for antisemitism Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Bloomberg
27-01-2025
- Business
- Bloomberg
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.
