Gaussion Set to Debut Battery Charging Tech with $12M Funding
UK based battery technology company, Gaussion has raised $12 million in a Series A funding round. According to Tech.eu, the new Gaussion funding will enable it to place its novel technology that steers ions in existing battery cells for fast charging in the market.
Battery charging speeds are among the major hurdles that commercial manufacturers must overcome to facilitate mass adoption of EVs.
“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,” Gaussion CEO and Cofounder, Tom Heenan said.
Magnetic Fields
Gaussion has developed a new solution that radically boosts battery performance. The solution by the University College London spinoff leverages external magnetic fields during charging and discharge cycles to reduce cell degradation and prolong battery life.
“Whereas magnetic enhancement could provide step-change improvements across all chemistries, formats, and applications, affordably unlocking electrification without compromising on cost or performance,” Heenan added.
Conventional electrochemistry makes rapid battery charging highly unpredictable. This frequently causes cell damage. Next-generation technologies like solid-state electrolytes are not any better. They have repeatedly failed to achieve deployment targets.
Viable Solution
Gaussion is offering a viable solution that can be scaled to meet the rising demand for powerful, highly efficient energy storage systems. The mobility startup already has a global portfolio of patents and patent applications.
Its innovation promises to solve battery charging problems for a broad range of applications, including construction equipment, transport electrification, residential energy storage, mining operations, and utility-scale energy storage.
Huge Opportunity
The Gaussion Series A funding round was led by Autotech Ventures. It was managed by UCL Business and AlbionVC. UCL Technology Fund and BGF supported the funding round. Autotech Ventures sees huge opportunities for Gaussion’s innovative battery charging solution in different markets.
“Gaussion’s approach aims to expand the solution space by introducing a new variable, rather than displacing or replacing existing technologies. They leverage the advancements of current battery cell giants and apply an external magnetic field to enhance the performance of established battery technologies without changing their core components,” Autotech Ventures Managing Director and Cofounder, Alexei Andreev said.
Commenting on the Gaussion battery charging tech funding, Dennis Atkinson, an investor at BGF said,
“Gaussion is an innovative business that has developed a unique solution to one of the most pressing issues in the EV battery space. The strong progress so far, led by an exceptional team, highlights the potential of their technology.”
Gaussion will use the new rapid battery charging tech funding to finance its market entry strategies. These include licensing the technology for other applications, production, and marketing its products.
