Addionics, an innovator in battery technology, has successfully raised $39 million in a Series B funding round. The investment was co-led by GM Ventures and Deep Insight, with participation from Scania and other strategic investors.
This funding will be instrumental in enhancing Addionics’ manufacturing capabilities and advancing its global business operations.
Expanding Manufacturing and Global Presence
The newly secured funds will enable Addionics to expand its teams worldwide and boost its manufacturing and commercialization efforts.
A significant portion of the investment will be directed towards the construction of a US-based giga-factory dedicated to producing Addionics’ innovative 3D Current Collectors.
This expansion is expected to accelerate the company’s ability to meet the growing global demand for high-performance batteries.
Revolutionary 3D Current Collectors
Addionics is at the forefront of battery innovation with its 3D Current Collectors, which offer substantial benefits in battery manufacturing and performance.
These collectors enhance heat dissipation throughout the electrodes, resulting in faster charging times, increased power, and improved stability.
The 3D Current Collectors also provide a cost-effective production solution, seamlessly integrating into existing manufacturing processes and allowing for rapid deployment.
Leadership and Vision
Moshiel Biton, CEO and Co-Founder of Addionics, expressed his enthusiasm about the partnership: “Working with true partners who understand the urgency of what Addionics has set out to accomplish is a privilege.
As the global demand for higher performing batteries grows, so too has the demand for our product. With the new funding, we will be able to begin commercial production by the end of the year, delivering our technology to battery manufacturers and enhancing battery performance globally.”
Support from Major Investors
The new round of financing will pave the way for future manufacturing facilities and faster commercial distribution. Addionics’ technology is already attracting interest from major automotive OEMs and battery manufacturers.
Anirvan Coomer, Managing Director at GM Ventures, highlighted the importance of this investment:
“GM’s investment supports our broader mission of identifying, investing in, and developing the right technology that will enable our all-electric future. Addionics’ current collector design shows promise in enabling improved battery performance at a lower cost. We are eager to support the company’s growth and look forward to continuing to explore opportunities to collaborate in the future.”
Dr. Eyal Kishon of Deep Insight echoed this sentiment:
“We are proud to co-lead this funding round and continue our support of Addionics in their journey to bring to market their groundbreaking battery technology. Their unique 3D Current Collector solution promises significant improvements to make better, more powerful batteries, aligning with our vision of investing in disruptive technologies to drive worldwide progress.”
Jessica Persson, Head of VC and M&A at Scania, also shared her support:
“Scania is dedicated to fostering advancements that contribute to a sustainable and efficient future. Addionics’ revolutionary approach to battery technology aligns with our mission to enhance the performance and sustainability of next-generation zero-emission solutions. We are proud of our investment in Addionics and look forward to the impact their technology will have on the future of batteries and electric vehicles.”
About Addionics
Addionics is a leading manufacturer of 3D Current Collectors™, powering the next generation of batteries. Their low-cost, drop-in solution seamlessly integrates into existing production facilities, enabling battery manufacturers and automakers to increase production capacity while reducing manufacturing costs.
By revolutionizing the internal physical structure of the battery, Addionics’ 3D Current Collectors significantly improve battery performance regardless of chemistry.
With partnerships spanning major OEMs and automakers across North America and Europe, Addionics is set to redefine the future of battery technology.
