Startup’s ‘miracle’ solid-state battery actually uses lithium-ion chemistry, according to third-party tests — Donut Lab raised $25M and is valued at $1.25B on what now appear to be debunked claims

A Finnish startup’s claims to have created a ‘miracle’ solid-state battery appear to have collapsed under independent scrutiny. Ryan Inis Hughes, host of the Ziroth YouTube channel, worked with “over 20 independent battery experts” to investigate the product from Donut Lab. They concluded that the battery was, in fact, a repacked lithium-ion chemistry one. Probably most worryingly, Donut Lab has collected $25M in investments from thousands of small investors. Authorities are now investigating, reports Electrek, what is already being described as the Theranos of the battery industry.

Exposing The Solid State Donut Battery. It's Over. - YouTube

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The video begins with Donut Lab CEO Marko Lehtimäki announcing at CES 2026 that his solid-state battery tech is “going to transform the industry.” Donut Lab’s valuation subsequently rocketed to $1.25B off the back of claims its 400 Wh/kg, 100,000-cycle, 5-minute-charging solid-state battery was shipping "in production vehicles."This startup, coming out of nowhere, boasting of an achievement that the likes of Toyota and Samsung are still working towards, made some suspicious and others eager to invest. But even before any independent technical analysis of a Donut Lab Solid State battery pack could be completed, cracks started to appear in its claims. For example, a whistleblower from a partner company, the ex-COO of Nordic Nano Group, came forward to allege that the CES 2026 outlined battery specs weren’t accurate.