Innovate Alabama Invests $1 Million in Johnson Energy Storage in SSBCI Investment 

BIRMINGHAM, AL (October 28, 2024) – Innovate Alabama is investing in Johnson Energy Storage (JES) along with NBA Hall of Famer Magic Johnson, Cleveland Browns All-Pro Myles Garrett and Southern Company Electrotechnologies. JES is a pioneer in new energy solutions with their all-solid-state batteries, a safer and cleaner and more affordable alternative to lithium batteries. This investment will catalyze JES operations in Tuskegee, AL.  

Former NASA engineer and Mobile native Dr. Lonnie Johnson founded JES and has spent the past 25 years inventing new ways to convert and store energy. From an early age Johnson has been fascinated by science and engineering—winning a science fair at the University of Alabama in 1968. Today, the Tuskegee University graduate holds more than 140 patents.  

With this $1 million investment, JES is among the first companies to receive funding from InvestAL, Alabama’s new venture capital program funded by the U.S. Department of the Treasury State Small Business Credit Initiative (SSBCI) and made possible through the efforts of the Alabama Legislature. Launched in 2024 by Innovate Alabama, InvestAL offers direct investments in high-growth startups and early-stage venture capital funds with the goals of funding overlooked geographies and communities, creating new jobs and building shared prosperity via business growth and scale. 

“Dr. Johnson’s Alabama roots and symbiotic relationship with Tuskegee make Johnson Energy Storage a natural choice for this historic SSBCI investment,” said Cynthia Crutchfield, Innovate Alabama CEO. “We hope this deal inspires entrepreneurs like Dr. Johnson with Alabama ties to take advantage of the momentum building in our innovation ecosystem.”  

JES and Tuskegee University are collaborating closely to drive innovation and job creation in Alabama. JES’ Alabama operation utilizes Tuskegee’s facilities, students and faculty expertise to advance its solid-state battery technology. This not only reinforces the company’s commitment to Alabama but also ensures that the benefits of this groundbreaking technology are felt in the community that helped nurture Johnson’s entrepreneurial spirit. Tuskegee benefits from high-tech job creation, which strengthens the local economy and works to position Alabama as a leader in the development of clean energy technology.  

“It’s important to me to give back to the community that played such a crucial role in shaping the opportunities I have today,” said Dr. Johnson. “I’m grateful to Innovate Alabama for their significant investment in the work we are doing, as well as their vision for a robust and inclusive knowledge economy in Alabama.” 

JES is not just a company—it’s a testament to the power of homegrown talent. Many JES engineers and scientists are Tuskegee alumni, bringing with them the knowledge and expertise that have been the hallmark of the historic institution. The strong connection between JES and Tuskegee has also laid the groundwork to establish the Johnson Research Technology Incubation Center (JRTIC) on campus to stimulate tech-driven economic growth. 

“Dr. Johnson is a legend at Tuskegee,” said Dr. Heshmat Aglan, Dean of the College of Engineering at Tuskegee University. “Seeing so many of our alumni join JES, as well as future jobs coming to Tuskegee, is an encouraging sign that rural spaces in Alabama will play a vital role in the economy of the future.” 

Launched earlier this year, Alabama’s SSBCI program represents the largest startup and small business funding in the state’s history, catalyzing increased capital access for years to come. Alabama’s SSBCI program features two avenues to funding—LendAL and InvestAL. LendAL partners with private lenders to extend credit to small businesses and entrepreneurs, fostering growth, innovation and job creation across the state. InvestAL offers high-match investments in high-growth startups, investors and early-stage capital funds in order to infuse capital into Alabama’s small business ecosystem. 

JES continues to push forward, and with each new development brings us one step closer to a sustainable future, powered by innovation and driven by a deep connection to the community. 

For more information on JES, visit johnsonenergystorage.com. For more information on the SSBCI program, visit InnovateAlabama.org/Programs/SSBCI. 

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About Innovate Alabama  

Innovate Alabama is Alabama’s first statewide public-private partnership focused on entrepreneurship, technology and innovation with a mission to help innovators grow roots here in Alabama. Innovate Alabama was established to implement the initiatives and recommendations set forth in the Alabama Innovation Commission’s report, including smart policy solutions that will create a more resilient, inclusive and robust economy to remain competitive in a 21^st-century world. With founding CEO Cynthia Crutchfield leading the charge, Innovate Alabama is also made up of a board of 11 innovation leaders appointed by Gov. Ivey, collaborating across sectors to advance industries, drive technology and facilitate an environment where innovation and entrepreneurship thrive. Learn more about Innovate Alabama at www.innovatealabama.org. 

About Johnson Energy Storage 

Johnson Energy Storage (JES) is a cutting-edge technology company dedicated to transforming the way the world stores energy. Our team of experts is committed to developing innovative solutions that will make energy storage safer, more efficient, more affordable, and more sustainable. We believe that our all-solid-state battery technology will be a step towards realizing this goal. JES is dedicated to leaving a softer footprint wherever we tread and to making a positive impact on the environment.