A start-up developing specialised batteries to power electric vehicles has secured a $2.5m grant as part of the European Union鈥檚 Horizon2020 innovation competition.
Founded by Farid Tariq, CEO Moshiel Biton, and CTO Vladimir Yufit in 2017, Addionics creates rechargeable batteries with a redesigned architecture.
The UK and Israeli firm has also raised $6m (拢4.8m), led by Next Gear Ventures as part of the round.
Its 3D metal fabrication method is designed to improve battery performance, safety, and charging times. The fabrication process is said to result in fewer costs for electric car owners.
The firm鈥檚 CTO Dr. Yufit said the firm was 鈥榓gnostic鈥� to the chemistry inside batteries and was focussed instead on improving battery life.
鈥淲e can take existing or future batteries and enhance their performance by our smart 3D components. No matter what chemistry technology will win the electrification race, we will improve it even more.
鈥淭his means cleaner transport and less contribution to climate change than conventional vehicles. And we鈥檙e not limited to vehicles.鈥�
While the firm鈥檚 focus is electric vehicles, it said its technology could be reproduced in smaller consumer electronics products and medical devices in future.
鈥淲e鈥檙e building an all-battery powered future that can live longer and generate less waste. Our technology will support the creation of a clean and sustainable planet.鈥�