Battery technology company Addionics has raised $27 million in Series A funding from Deep Insight, Catalyst Fund, Delek Motors, Dr. Boaz Schwartz, Dr. David Deak and others. The funding will be used for developing and commercializing batteries with the company’s Smart 3D Electrodes, hiring additional team members and increasing the company’s activities in the US and Germany. Dr. Deak will join Addionics’s board of directors.
Addionics has developed a scalable electrode fabrication process which is compatible with existing manufacturing facilities and assembly lines. According to Addionics, its Smart 3D Electrodes improve the performance and lower the cost of batteries with any chemistry. The company says its fabrication process supports a mass market for 3D electrodes by lowering the costs of manufacturing them. Addionics has also developed a proprietary AI algorithm that the company says speeds up battery development time.
Addionics says it is collaborating with automakers in the US and Europe to integrate 3D Smart Electrodes into solid-state batteries as well as a range of battery chemistries, including lithium-nickel-manganese-cobalt-oxide, lithium iron phosphate, silicon and lithium polymer.