Addionics raises $27 million for battery redesign


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Addionics has raised $27 million in funding to scale up next-generation battery development with Smart 3D Electrodes.

Tel Aviv, Israel-based Addionics claims its chemistry-agnostic technology enables improvements in all key battery characteristics, meeting the increasing global demand for low-cost, high-performance energy storage solutions.

Smart 3D electrodes improve the cost and performance of batteries with any chemistry – existing or emerging. The funding round was led by Deep Insight, a technology investment firm founded and backed by Jeff Horing, the founder of Insight Partners, along with Catalyst Fund, Delek Motors and Dr. Boaz Schwartz.

Other investors include Novelis, Magna International, JX Nippon Mining & Metals, Union Tech Ventures, 8090 Partners, GiTV, Talcar Corporation, Bridges Israel Impact Investment Fund, Doral Energy Tech Ventures (Doral Energy CVC) and David Deak. Existing investors participating in the round include NextGear Ventures and Vasuki Global Tech Fund.

In addition to his investment, Deak joins Addionics’ board of directors, leveraging his experience leading supply chain projects and battery engineering programs on Tesla’s Gigafactory team. Former director of NIO Capital, Yair Shacked, has also recently joined Addionics’ advisory board.

How it works

Addionics founders (left to right): Moshiel Biton, Nir Halup, Farid Tariq and CTO Vladimir Yufit.

Addionics is focused on redesigning the battery architecture, replacing the traditional two-dimensional layered structure of the electrode with an integrated 3D structure. This approach results in batteries with higher energy density and power, improved safety and longer life – all without increasing battery costs.

This innovation unlocks the full potential of next-generation battery chemistry to meet rising global demand for batteries, driven by electrification trends and decarbonization mandates, the company said.

The company’s key intellectual property is its patented and scalable electrode manufacturing process that significantly reduces production costs, enabling the mass-market adoption of 3D electrode structures for the first time.

This drop-in solution is compatible with existing battery production facilities and assembly lines. In addition, Addionics’ proprietary artificial intelligence algorithm accelerates battery development time and optimizes electrode designs to meet any battery application and performance requirement.

The combination of Addionics’ proprietary manufacturing process and AI algorithm allows manufacturers to build high-performance batteries at lower market prices on a gigascale.

“With the support of our valued investors and strategic partners, Addionics is paving a clear path to market disruption and is well positioned to deliver better performing, lower cost batteries at scale,” said Moshiel Biton, CEO of Addionics, in a statement. “We look forward to accelerating our product development and building the necessary foundations for commercialization as we remain committed to our mission to revolutionize the battery industry by building the best battery cell architecture on the market. “

Addionics plans to advance the integration of its technology into a wide range of applications, with an initial focus on electric vehicles working with some of the world’s largest automakers and suppliers. The company is working with leading automakers and suppliers in the US and Europe to integrate 3D Smart Electrodes with Lithium Nickel Manganese Cobalt Oxide (NMC), Lithium Iron Phosphate (LFP), Silicon, Lithium Polymer Batteries and Solid State Batteries (SSB) .

“At Catalyst Fund, we align closely with Addionics’ mission to revolutionize the energy storage industry and support a zero-zero future,” said Yair Shamir, managing partner at Catalyst Fund, in a statement. “With its unique physics-based approach to battery technology, Addionics stands above the competition in mass-market potential. The company is not only an exciting investment opportunity in climate technology, but we also see it as a key driver for the electric transition.”

The new investment follows an initial $9 million funding led by Next Gear Ventures, including a $2.5 million grant as part of the European Union’s Horizon2020 innovation competition. Addionics plans to use the additional investment to further develop its technology capabilities and applications, aiming to reach commercialization by 2024. The funding will also be used to expand the company ‘s team and increase its activity in the US and Germany to better interact with partners .

Addionics has 20 employees in London and Israel and hopes to expand its team in the US and Germany in the near future.

Addionics was founded in 2018 with the mission of revolutionizing the energy storage industry by building the best battery architecture on the market. But the story began in 2014, when the future founders of Addionics were academic researchers in materials technology. They investigated the cause of dangerous explosions in batteries, such as what happened recently in the Samsung Galaxy Note 7, and were the first to investigate this under a microscope in real time. They realized that the dendrite architecture that causes batteries to short circuit is really interesting, and they hypothesized that this negative phenomenon could be used to actually improve battery performance.

They didn’t invent the concept of 3D structures, nor were they the first to understand its benefits. Many scientific papers have been published on the subject and they have even been used in older batteries prior to Li-Ion. But the problem was that there was no cost-effective manufacturing process to develop the required metals.

Addionics solved this by developing a new scalable and cost-effective metal fabrication process for both the anode and cathode – the core IP of Addionics. This is a complete entry-level solution that is compatible with existing battery production facilities and dry/wet processes – a huge advantage for battery manufacturers in terms of time-to-market and battery costs, which can be reduced by up to 10% per kWh with this solution.

The manufacturing process is supported by a proprietary AI algorithm that helps predict and determine the best structure based on the application requirements. The software also collects data that helps improve and accelerate product development, optimize processes, reduce costs, and most importantly, protect the company’s IP.

The biggest differentiator for the technology is that it is chemistry agnostic. There is no doubt that the industry still has to develop new battery chemistry and bring to market promising technologies such as solid state. But this new chemistry still has technical limitations. But when combined with new approaches to battery design, such as 3D Smart Electrodes, the company can overcome these challenges faster.

The mission is to integrate the solution into every battery in the world so that it can accelerate electrification and the transition to a zero-carbon economy.

Addionics plans to use the additional investment to further develop its technology capabilities and applications with a view to commercialization by 2024. The funding will also be used to build two pilot production facilities, expand the company’s team and expand its business. in the US and Germany to work better with partners.

Addionics has five commercial projects in the automotive sector with leading companies and conglomerates. These projects are paid and each focuses on a different battery chemistry integrated with smart 3D electrodes – to also demonstrate the vision.

Development of a smart 3D silicon anode battery in collaboration with a US automotive tier 1 player
A collaboration (also funded by the $1 million BIRD foundation) with Saint-Gobain to co-develop a solid-state battery

Addionics has raised nearly $40 million to date. The $27 million investment follows an initial $9 million funding led by Next Gear Ventures, including a $2.5 million grant as part of the European Union’s Horizon 2020 innovation competition.

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