Startup battery manufacturing facility comes to West Loop

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Battery startup NanoGraf has cut the ribbon on its new manufacturing facility in Chicago’s West Loop. The company is developing materials for the next generation of lithium-ion batteries. The facility is the first large-volume silicon oxide facility in North America and was made possible through a $10 million Department of Defense contract. NanoGraf says silicon oxide will help power longer-lasting batteries for electric vehicles and other devices. The facility will employ 35 people and the company plans to expand to other parts of the U.S.

Also, North Chicago-based Abbie will acquire Cereval Therapeutics for $8.7 billion.