$6m funding for Israeli 3D battery material firm
UK/Israeli battery technology developer Addionics has raised $6m to commercialise its 3D battery technology.
The round was led by Israeli fund Next Gear Ventures and includes a $2.5m grant as part of the European Union’s Horizon2020 innovation competition.
The company was founded by academics at Imperial College London to improve rechargeable batteries by redesigning their physical architecture rather than the chemistry.
The patented 3D metal fabrication method can boost the performance, mileage and safety of batteries as well as reduce the cost and charging time. The 3D battery structure minimizes the internal resistance and improves mechanical longevity, thermal stability and other fundamental limitations and degradation factors in standard batteries.
“We are developing a new technology that will transform the way we store and deliver energy with a positive effect on the environment. Today, we are accelerating the development and scale-up of our proprietary technology to create the next generation of batteries to power the future,” said Dr. Vladimir Yufit from Imperial College, London, and CTO of Addionics. “We are agnostic to the battery chemistry. Therefore, we can take existing or future batteries and enhance their performance by our smart 3D components. No matter what chemistry technology will win the electrification race, we will improve it even more,” he said.
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