The new facility is expected to provide electric vehicle manufacturers with next-generation wiring systems needed for electrical systems and battery packs, according to the release.
“CelLink was originally founded with the goal of developing a new type of interconnect for solar panels. To see this core technology evolve into an entirely new product class that is accelerating the transition away from fossil fuel-based transportation, with amazing customers buying our products and world-class investors supporting our growth, is a dream come true,” Kevin Coakley, co-founder and CEO of CelLinks said in a release. “We are particularly excited about the deep convictions that our new investors have about the future of the automotive industry. These investors share in our belief that the traditional wire harness industry needs to be disrupted in order for the transition to electric vehicles to fully occur.”
Those investors include Whale Rock Capital, which led CelLink's latest round of funding that totaled $250 million and also included D1 Capital Partners and Fidelity Management & Research Company LLC, according to the company's release.
Economic development agreements for the CelLink facility will be considered by the Williamson County Commissioners Court and the Georgetown City Council at their respective meetings on Feb. 22.
A groundbreaking ceremony will be held for the new facility on Feb. 23 at 9 a.m., with officials from the company, the city and county in attendance at the Gateway35 Commerce Center.
The project is expected to be complete by June.
