a year ago

Addionics Secures $39 Million in Series B Funding to Expand Battery Technology

  • Addionics, a UK-based battery technology company, raised $39 million in Series B funding led by GM Ventures and Deep Insight, with participation from Scania

  • The funds will be used to expand teams globally, increase manufacturing and commercialization efforts, and build a US-based giga-factory for the production of its 3D Current Collectors

  • Addionics' technology enhances battery performance by improving the internal physical structure, allowing battery manufacturers and automakers to increase production capacity and reduce costs

  • The company has partnerships with major OEMs and automakers in North America and Europe.

      • ProblemTechnology

      "Battery performance is not meeting the demands of the rapidly growing electric vehicle market. Current battery technologies struggle to provide the range, power, and longevity required for widespread adoption, especially in demanding applications like electric trucks and buses."

      Solution

      "Addionics offers 3D Current Collectors™, a drop-in solution for existing battery production lines. Their technology improves the internal structure of batteries, increasing their performance, range, and lifespan. This solution allows battery manufacturers to upgrade their existing production without significant changes, leading to faster adoption of improved battery technology."

      Covered on