Innovate Alabama is investing $1 million in Johnson Energy Storage through its InvestAL venture capital program. JES has developed an all-solid-state-battery.
JES was founded by Lonnie Johnson, a former NASA engineer, Mobile native and Tuskegee University graduate who holds more than 140 patents. He was honored by Business Alabama as a lifetime achievement winner at this year’s Business Alabama Awards.
The Tuskegee-based company is one of the first in the state to receive InvestAL funding, which offers direct investments in high-growth startups and early-stage venture capital funds with the goal of funding overlooked geographies and communities via business growth and scale. InvestAL was launched in 2024 by Innovate Alabama and is funded by the U.S. Department of the Treasury State Small Business Credit Initiative.
“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, with the company’s Alabama operation utilizing Tuskegee’s facilities, students and faculty expertise to advance its solid-state battery technology. Tuskegee will benefit from high-tech job creation, which will strengthen the local economy and work to position the state to become a developer 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 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.”
Alabama’s SSBCI program features two avenues for funding — InvestAL and LendAL. LendAL partners with private lenders to extend credit to small businesses and entrepreneurs, fostering growth, innovation and job creation in the state.
