Addionics, a leading battery technology firm, has successfully raised £30 million in Series B funding to bolster its manufacturing capabilities, expand commercialisation efforts, and promote global team-building. The London-based company manufactures 3D Current Collectors that enhance battery manufacturing and performance. With better heat dissipation capabilities, these batteries offer faster charging times, increased power and stability, and a reduced cost. Addionics claims that its drop-in solution allows quick and easy integration for manufacturers. The investment round was co-led by GM Ventures and Deep Insight, with participation from Scania, along with strategic investors. The funds will be used to advance the construction of a planned US-based giga-factory for the production of Addionics 3D Current Collectors. Addionics is working with the majority of the 10 largest global automotive OEMs and battery manufacturers, helping to meet the growing demand for high-performing batteries.
“Working with true partners who understand the urgency of what Addionics has set out to accomplish is a privilege,” says Moshiel Biton, CEO and co-founder of Addionics. The company aims to deliver its technology to battery manufacturers, enhancing battery performance worldwide. Anirvan Coomer, Managing Director of GM Ventures, thinks that Addionics’s current collector design shows great promise in enabling improved battery performance at a lower cost. “GM’s investment supports our broader mission of identifying, investing in, and developing the right technology that will enable our all-electric future,” he said. “We are eager to support the company’s growth and look forward to continuing to explore opportunities to collaborate in the future.” The company aims to begin commercial production by the end of the year, offering innovative solutions to the global market.
