The venture capital arm of General<\/a> Motors and Israeli VC fund Deep Insight led the round, with participation from Swedish truck-maker Scania.\u00a0\u00a0<\/span><\/p>\n The startup has developed a 3D-structured ultra-thin copper foil that can simply \u201cdrop in\u201d to existing battery architectures. The so-called current collector minimises internal resistance within a battery, allowing energy to flow more efficiently. This improves capacity, charging time, and battery life.\u00a0<\/span><\/p>\n While these benefits app<\/a>ly to all batteries, Addionics is focusing its efforts on the automotive industry.\u00a0<\/span><\/p>\n TNW Conference 2025 – Back to NDSM on June 19-20, 2025 – Save the date!<\/p>\n As we wrapped up our incredible 2024 edition, we’re pleased to announce our return to Amsterdam NDSM in 2025. Registration now!<\/p>\n<\/div>\n<\/div>\n EV-makers and their battery manufacturers are racing to build batteries that charge faster and last longer. Addionics tech can help boost performance simply by changing the physical structure inside the battery, which it claims is a lot cheaper than tinkering with battery chemistry.\u00a0<\/span><\/p>\n \u201cAddionics\u2019 current collector design shows promise in enabling improved battery performance at a lower cost,\u201d said Anirvan Coomer, managing director at GM Ventures.<\/span><\/p>\n The Israel-born company will use the fresh funding to ramp up R&D as it looks to open its first gigafactory in 2027. The plant will be built not in Europe but the US.\u00a0<\/span><\/p>\n \u201cWith the incentives that the US government is providing, it\u2019s a crime not to try to do it in the US,\u201d CEO and co-founder Moshiel Biton previously told the <\/span>Financial Times<\/span><\/a>. \u201cWe haven\u2019t found any other location that provides similar incentives.\u201d\u00a0\u00a0<\/span><\/p>\n In February, Addionics announced that it plans to invest $400mn to build the plant, and an undisclosed number of additional facilities set to be complete by 2032.\u00a0\u00a0<\/span><\/p>\n Combined, the factories could produce <\/span>tens of thousands of tons of 3D copper foil per year \u2014 enough to enable 90GWh of battery capacity annually. This would reduce the \u201coverall cost of batteries in the US,\u201d <\/span>Addionics said following the <\/span>announcement<\/span><\/a>.<\/span><\/p>\n So far Addionics has secured $72mn in total since Biton and <\/span>Farid Tariq <\/span>co-founded the company in 2017. It plans to raise hundreds of millions more via grants, equity, and debt. <\/span>\n <\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n\n
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