Natron, a U.S.-based sodium-ion battery startup, has ceased operations after 12 years, despite having $25 million in orders for its Michigan factory. The company could not deliver without UL certification, a process that often takes months, leaving investors unwilling to release more funds. With no buyers for its primary shareholder’s stake, Natron is liquidating under an “assignment for the benefit of creditors,” a process similar to bankruptcy but without lengthy court proceedings.
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The closure halts plans for a $1.4 billion factory in North Carolina that promised 1,000 jobs. Natron’s failure highlights the challenges of building large-scale battery manufacturing outside Asia, where supply chains and expertise dominate. Recent collapses of Oregon’s Powin and Sweden’s Northvolt further underline the difficulties Western startups face in competing with established Asian giants. Analysts say long-term government support or joint ventures with companies like Panasonic and LG Energy Solution may be the West’s best path forward.
