Adden Energy develops EV battery that charges in 3 minutes and lasts 20 years
By MYBRANDBOOK
Harvard-backed startup Adden Energy, has developed a battery for electric cars that is capable of fully charging in three minutes and lasting for 20 years.
The startup has received $5.15 million in funding to commercialise the game-changing battery. The technology has received an exclusive license from Harvard’s Office of Technology Development, and the funding was led by Primavera Capital Group, with participation by Rhapsody Venture Partners and MassVentures.
Xin Li, an associate professor at Harvard and a scientific advisor to Adden Energy, said, “Electric vehicles cannot remain a luxury fashion, literally the ‘one percent’ of vehicles on the road, if we are to make progress toward a clean energy future, and the US won’t have a used-car market if EV batteries last only three to five years. Technology needs to be accessible to everyone. We don’t see any fundamental limit to scaling up our battery technology. That could be a game changer.”
It will now advance the technology after successfully demonstrating a coin-cell prototype with 5,000-10,000 cycles in a lifetime, against 2,000 to 3,000 charging cycles for the best in class batteries currently.
Adden Energy CEO William Fitzhugh said, “Complete electrification of the vehicle fleet is one of the most meaningful steps we can take to fight climate change. However, broad adoption of electric vehicles requires batteries that can meet a diverse set of consumer needs. EVs need to recharge at comparable times to internal combustion vehicles, essentially in the time you’d currently spend at the gas pump.”
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