On April 22, 2025, Endicott-based lithium-ion battery manufacturer iM3NY LLC (also known as Imperium3 New York, Inc.) filed a motion in U.S. Bankruptcy Court to dismiss its Chapter 11 bankruptcy case. The company, once considered a promising clean-energy startup aiming to produce lithium-ion battery cells domestically, initially filed for Chapter 11 protection on January 27, 2025, citing funding shortfalls and operational setbacks.
Earlier this month, on April 4, iM3NY completed the sale of its assets, marking a significant step toward liquidation. The company also received court approval on April 21 to proceed with waste removal efforts, carried out by Sun Environmental Corporation, as part of the asset sale conditions.
The motion to dismiss the bankruptcy case was filed the following day, April 22, with iM3NY stating that dismissal would be the most efficient and cost-effective way to conclude the proceedings. According to bankruptcy filings, the company owed between $100 million and $500 million to more than 15 creditors, while holding estimated assets of only $50 million to $100 million.
The court has set a deadline of May 6 for objections to the motion, with a hearing scheduled for May 13. iM3NY is being represented by the law firm Chipman, Brown, Cicero, and Cole LLP of Delaware.
While the motion to dismiss signals the end of iM3NY’s operations, it also underscores the challenges facing cleantech startups navigating complex capital and operational demands. The company’s closure is a significant development for the Endicott business community and the broader Southern Tier economic landscape.
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