Battery technology developer Addionics has closed a $39 million Series B funding round. The round was co-led by GM Ventures and Deep Insight, with participation from Scania and other investors. Addionics intends to use the investment to expand its manufacturing and commercialization activities and accelerate the construction of its planned Gigafactory in the US.
3D Anodes to Make Battery Production Cheaper
Addionics is working on 3D anodes, which the company says will offer advantages in battery production and performance. The technology should allow for better heat dissipation in the electrodes, which could lead to faster charging times, higher energy density and more stable batteries. This technology is largely independent of the battery chemistry used. The 3D current collectors are designed as a drop-in solution and should be seamlessly integrated into existing production processes.
Earlier this year, the battery developer announced the construction of a $400 million factory in the U.S. to manufacture its 3D copper anodes. The plant is expected to be operational in 2027 and produce anodes for approximately 90 gigawatt-hours of battery capacity per year. By the end of 2024, the company plans to begin supplying prototype battery cells to automakers for testing. The company aims to supply products on a large scale by 2027 or 2028.
Sources:
https://www.prnewswire.com/news-releases/led-by-gm-ventures-addionics-raises-39-million-series-b-to-drive-cost-efficient-ev-battery-innovation-302206446.html
https://www.reuters.com/business/autos-transportation/gm-co-leads-39-mln-funding-ev-battery-materials-startup-addionics-2024-07-25/
