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Addionics in $400m US battery material plant plan

Addionics in $400m US battery material plant plan

Business news |
By Nick Flaherty



Addionics is in the final stages of selecting the site for its first factory in the US as part of a $400m investment.

The plant will make the Addionics 3D Current Collector copper foil and is the first stage of a three-phase multi-factory plan for the UK-Israeli company.

Once completed the factories will generate 3D copper foils to support 90GWh of battery capacity a year, representing an exponential increase in US copper foil production.

Addionics expects the first plant to begin production in 2027, with additional plants expected to be completed by 2032. The three-phase multi-factory plan will produce tens of thousands of tons of 3D copper foil per year, reducing the overall cost of batteries in the US, strengthening supply chain stability, and bolstering domestic battery production.

“The ability to manufacture cost-effective high-performance batteries at scale is the biggest challenge facing the EV industry today,” said Dr. Moshiel Biton, CEO and Co-Founder of Addionics. “The new US facility will be our largest manufacturing facility to date, and will be able to support and accelerate the local production of the next generation of batteries that are powering the EV and electrified future.”

“U.S. automakers are eager to bring the next wave of EVs to market at a price point to compete with gas-powered models,” added Udi Chatow, VP of Manufacturing at Addionics. “The gap between market demand for high-performance low-cost batteries and what is being produced domestically is widening, and we are excited to be a part of the solution to bring domestic battery supply in line with demand.”

The copper Smart 3D Current Collectors enables higher energy density, higher power, faster charging times, and a longer lifespan compared to traditional batteries.

www.addionics.com

 

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