Boston Financial & Equity closed a $3 million equipment lease line pari passu with a company focused on the lithium-ion battery manufacturing industry.

Based in California and formed in May 2021, the company also raised a $20 million Series A round of financing. The company’s process will allow electric vehicle battery suppliers to reduce materials and manufacturing costs by shortening the lab production process by more than 90%. The company is in the process of building out its manufacturing facility.