A battery industry veteran is taking over a Wauwatosa-based startup that hopes to supercharge lithium-ion batteries.
COnovate, located in Wauwatosa’s Technology Innovation Center, announced Craig Rigby will serve as CEO as the company looks to aggressively pursue commercialization. Rigby has served as an executive at Johnson Controls Battery Group and its successor Clarios since 2007.
Rigby has sat on COnovate’s board since 2022.
Rigby takes over from CEO Carol Hirschmugl, a University of Wisconsin-Milwaukee physics professor emeritus. She co-founded the company with fellow professor Marija Gajdardziska-Josifovska in 2016 after they discovered a form of carbon monoxide that remains solid at room temperature. They gave it the trademark name “eCOphite.”
“Carol’s done a fantastic job of leading the company through this technology’s development,” Rigby told the Journal Sentinel. “Where we want to go is, we want to see tons and tons of this material being produced and sold for use in batteries and potentially a bunch of different things.”
Hirschmugl will remain as COnovate’s chief technology officer to direct research on more potential uses for the material.
“While we’re focusing on getting this to market with batteries – because we know that this is a real product and a real solution that’s important for the industry – we’re also looking at the opportunities that are out there for this material to fill in other needs for the world,” Hirschmugl said.
eCOphite could strengthen lithium ion batteries
eCOphite bears resemblance to the graphite used in lithium ion batteries, which power everything from cell phones and computers to electric vehicles and utility-scale battery storage facilities.
It boasts a faster charging time and better performance in cold temperatures than traditional graphite, Hirschmugl said. It’s also made from lignin, a renewable byproduct of pulp and paper mills.
COnovate hopes the material will boost domestic lithium-ion battery production. The U.S. relies on China for most of the graphite it uses in batteries, which Rigby says has long created national security concerns.
“Lithium ion batteries are becoming more and more important to things like national security, defense and everyday life, so we need to create something where we can have independence of our supply chain,” Rigby said.
eCOphite could also boost grid performance and reliability as hyperscale data centers drive up energy demand, he added.
New CEO looks to scale up
COnovate currently produces around a kilogram – or 2.2 pounds – of eCOphite per week. That’s more than the nanograms Hirschmugl worked with during her initial research, but the company wants to one day produce thousands of tons each year.
Rigby will start by working with Midwestern contractors experienced in manufacturing carbon-based materials similar to eCOphite. But the ultimate goal is for COnovate to open its own factory, he said.
It must also raise more money and hire more employees – about 30 to 40 in total, Rigby said. COnovate has received millions of dollars in state and federal grants. It’s in the middle of a round of fundraising and hopes to raise another $10 million in 2027.
If the company can show that eCOphite is viable at scale, Rigby wants to target communication devices and other defense equipment that use lithium-ion batteries.
Francesca Pica can be reached at usatodayco.com.
This article originally appeared on Milwaukee Journal Sentinel: Former Johnson Controls executive to lead Wauwatosa battery startup
Reporting by Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
USA TODAY Network via Reuters Connect
By Milwaukee Journal Sentinel | USA TODAY Network
