Tuesday 13 August 2024

$12m invested in EV batteries

Battery research and technology company Gaussion has raised $12 million (£9 million) for its technology that enhances performance and extends the lifespan of batteries.

It will aim to overcome the existing issue of battery charging speed which acts as a deterrent for the adoption of both passenger and commercial electric vehicles (EVs).

According to Gaussion, existing rapid charging technology damages cells and is too unpredictable.

Moreover, next-generation technologies such as solid-state electrolytes aren't deployed at a rate necessary for widespread adoption.

Gaussion's solution uses an external magnetic field during charge and discharge cycles to enable rapid charging by steering ions within existing battery cells. The magnetic field also lowers cell degradation, extending battery life.

Their technology will apply the external magnetic field to enhance the performance of established battery technologies without changing core components.

Tom Heenan, Gaussion CEO and Co-Founder, said: 'In many applications, we are observing that efforts to rapidly electrify are delayed or blocked due to the cost of raising the ceiling of battery performance.

'Magnetic enhancement could provide step-change improvements across all chemistries, formats and applications, affordably unlocking electrification without compromising on cost or performance.'