Lithium-ion batteries play a central role in the world of technology, powering everything from smartphones to smart cars, and one of the people who helped commercialize them says he has a way to cut mass production costs by 90% and significantly improve their safety. Hideaki Horie, formerly of Nissan Motor Co., founded Tokyo-based APB Corp. in 2018 to make “all-polymer batteries” — hence the company name. Earlier this year the company received backing from a group of Japanese firms that includes general contractor Obayashi Corp., industrial equipment manufacturer Yokogawa Electric Corp. and carbon fiber maker Teijin Ltd.

“The problem with making lithium batteries now is that it’s device manufacturing like semiconductors,” Horie said in an interview. “Our goal is to make it more like steel production.”

The making of a cell, every battery’s basic unit, is a complicated process requiring cleanroom conditions — with airlocks to control moisture, constant air filtering and exacting precision to prevent contamination of highly reactive materials. The setup can be so expensive that a handful of top players like South Korea’s LG Chem Ltd., China’s CATL and Japan’s Panasonic Corp. spend billions of dollars to build a suitable factory.

Horie’s innovation is to replace the battery’s basic components — metal-lined electrodes and liquid electrolytes — with a resin construction. He says this approach dramatically simplifies and speeds up manufacturing, making it as easy as “buttering toast.” It allows for 10-meter-long battery sheets that can be stacked on top of each other “like seat cushions” to increase capacity, he said. Importantly, the resin-based batteries are also resistant to catching fire when punctured.

In March, APB raised 8 billion yen ($74 million), which is tiny by the wider industry’s standards but will be enough to fully equip one factory for mass production slated to start next year. Horie estimates the funds will get his plant in central Japan to 1 gigawatt-hour capacity by 2023.

Lithium-ion batteries have come a long way since they were first commercialized almost three decades ago. They last longer, pack more power and cost 85% less than they did 10 years ago, serving as the quiet workhorse driving the growth of smartphones and tablets with ever more powerful internals. But safety remains an issue and batteries have been the cause of fires in everything from Tesla Inc.’s cars to Boeing Co.’s Dreamliner jets and Samsung Electronics Co.’s smartphones.

“Just from the standpoint of physics, the lithium-ion battery is the best heater humanity has ever created,” Horie said