Climate Insider Brief:
- London-based battery charging startup Gaussion has secured $12 million in Series A funding, led by Autotech Ventures, with participation from existing investors UCL Technology Fund and BGF.
- Gaussion’s technology uses an external magnetic field to enhance battery performance, enabling 10-minute rapid charging on existing commercial battery cells while reducing cell degradation and extending battery life.
- The technology has wide-ranging applications, including transportation electrification, construction equipment, and large-scale energy storage, positioning Gaussion as a key player in the future of energy storage solutions.
London-based Gaussion, a spin-out from University College London (UCL), has successfully raised $12 million in Series A funding, marking a significant milestone in its mission to revolutionize battery charging technology. This funding round, led by Autotech Ventures—known for investments in companies like Bumper and Laka—also saw continued support from existing investors UCL Technology Fund and BGF, the UK and Ireland’s largest growth capital investor, which has backed firms such as Kooth and PureCyber.
Breaking Through Charging Speed Barriers
Charging speed is a critical challenge in the widespread adoption of passenger and commercial electric vehicles (EVs). Traditional electrochemical processes often struggle with rapid charging, which can unpredictably damage battery cells. While next-generation technologies like solid-state electrolytes have been touted as solutions, they have yet to meet deployment targets effectively.
Gaussion has developed a groundbreaking solution to this issue. The company’s technology leverages an external magnetic field to enhance battery performance during both charging and discharging cycles. This innovation allows for rapid charging by steering ions within existing battery cells, significantly reducing cell degradation and extending battery life.
Gaussion’s Vision and Technology
Founded in 2017 by Dr. Tom Heenan and Dr. Tan, Gaussion aims to transform the battery industry with its scalable and efficient energy storage solutions. The company’s rapid charging technology can be applied to existing commercially available battery cells, enabling them to charge in just 10 minutes over 1,000+ cycles while still meeting warranty specifications.
Gaussion’s technology has broad applications, from transportation electrification to construction equipment, mining operations, and large-scale energy storage for residential and utility purposes. This flexibility makes it a potential game-changer in multiple industries.
“In many applications, efforts to rapidly electrify are delayed or blocked due to the cost of raising the ceiling of battery performance,” said Tom Heenan, Gaussion’s CEO and co-founder. “Magnetic enhancement could provide step-change improvements across all chemistries, formats, and applications, affordably unlocking electrification without compromising on cost or performance.”
Investors’ Confidence in Gaussion
Investors are optimistic about Gaussion’s potential to disrupt the battery industry. “Gaussion’s approach aims to expand the solution space by introducing a new variable, rather than displacing or replacing existing technologies,” said Alexei Andreev, co-founder and managing director of Autotech Ventures. “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. We see tremendous opportunities in a variety of markets.”
Dennis Atkinson, an investor at BGF, echoed this sentiment: “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, and we are excited to have Autotech now join the journey.”
David Grimm, Partner at UCL Technology Fund, added, “Slow charging speed and battery degradation are currently limiting the wide-scale adoption of electric vehicles and the broader energy transition. Dr. Tom Heenan and Dr. Chun Tan have managed to solve this problem by building an innovative solution from their university labs into a scaling company. Gaussion’s commercial application taps into a huge market need, and we look forward to continuing to support them on their journey.”
A Promising Future for Gaussion
With this latest infusion of capital, Gaussion is poised to enter the market, producing and selling its innovative products while exploring potential licensing opportunities for its technology across various applications. The startup’s unique approach to battery charging could be the key to overcoming one of the most significant barriers to the mass adoption of electric vehicles, paving the way for a more electrified future.
SOURCE: Tech Funding News
Featured Image: Credit: Gaussion
