Addionics, a startup supported by GM Ventures, is pioneering a new approach to lithium-ion battery production that promises to make them more cost-effective. By introducing a textured foil current collector, Addionics aims to enhance battery performance and efficiency, potentially doubling their lifespan while reducing production costs.
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The quest for more affordable lithium-ion batteries has led manufacturers to explore innovative solutions. With EV prices being a critical factor in their adoption, battery pack costs have seen a significant decline over the past decade, thanks to technological advancements. However, recent stagnation in cost reduction has raised concerns about the future affordability of EVs.Moshiel Biton, co-founder and CEO of Addionics, explains that the key to progress lies in adding texture to the foil. The company has developed a method to create copper and aluminum foils with tiny holes and a wavy surface. This textured design increases the contact area between the foil and the active material, leading to improved battery performance and efficiency. The techniques used by Addionics, including electric deposition for copper and electroetching for aluminum, are akin to those used in the semiconductor industry. The result is a three-dimensional current collector that not only enhances battery capabilities but is also compatible with a wide range of battery chemistries.Addionics recently raised $39 million in a Series B round, led by GM Ventures and Deep Insight, with participation from Scania. The funding will accelerate the delivery of their advanced current collectors and explore new markets. The company also plans to build a $400 million factory in the U.S., aligning with the Inflation Reduction Act's incentives for increasing domestic content.Biton hinted at partnerships with major U.S. automakers, which will be disclosed alongside the factory announcement. This breakthrough could be a game-changer for EV affordability and performance, propelling the industry forward.Automobility Ltd is excited that its EXCELerate portfolio company Addionics is taking a significant step forward in enabling affordable Li-ion batteries.Please contact us at info@automobility.io if you would like further information on this startup or to learn more about other Auto & Mobility investment opportunities from our EXCELerate opportunity pipeline.
