Energy storage provider Cadenza Innovation has raised over $5 million in growth capital, which it will use to expand product development, secure additional certifications, extend initial deployments and make key new hires.
Cadenza says its novel pack architecture enables longer range in a smaller footprint, and its integrated fire protection eliminates fires caused by thermal runaway. Its battery pack features a simplified design using readily available components, which allows it to approach price parity with ICE powertrains.
“Cadenza Innovation is capitalizing on its intellectual property, combined with the massive industry learning curve, advancements in manufacturing and increasingly mature supply chains, to create a very low-cost approach for the packaging of lithium-ion chemistries,” said founder Dr. Christina Lampe-Onnerud.
Source: Cadenza Innovation