Gaussion, a company specializing in battery performance technology, has successfully secured $12 million in a Series A funding round. The funds aim to support the company’s innovative approach to improving battery efficiency through the application of an external magnetic field. This technology promises to address the enduring challenges in the electric vehicle (EV) sector, specifically targeting the unpredictability and degradation associated with rapid charging.
Gaussion’s recent developments can be compared to earlier solutions in the battery industry that aimed to enhance charging speed and battery longevity. Traditional methods often fell short due to their inherent limitations in electrochemistry, leading to cell damage and failure to meet deployment targets. Gaussion’s approach, however, leverages existing battery technologies, enhancing them without altering their fundamental components. This marks a significant shift from previous strategies that attempted to introduce entirely new technologies.
Earlier attempts to revolutionize battery performance included advancements in solid-state electrolytes, which also sought to improve charging efficiency and durability. However, these technologies frequently failed to achieve widespread commercial viability due to scalability and cost issues. Gaussion’s method stands out by offering a scalable and cost-effective solution that enhances current battery systems rather than replacing them.
Innovative Charging Solutions
The core of Gaussion’s innovation lies in the use of an external magnetic field to steer ions within battery cells during charge and discharge cycles. This not only facilitates rapid charging but also mitigates cell degradation, thereby extending the overall battery life. The company’s technology has significant implications for various sectors, including transportation electrification, construction equipment, mining operations, and residential and utility-scale energy storage.
Gaussion’s CEO and co-founder, Tom Heenan, stated, “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.”
Backed by Leading Investors
The Series A round was led by Autotech Ventures, with participation from BGF and the UCL Technology Fund, which is managed by AlbionVC in collaboration with UCL Business. The investment will facilitate Gaussion’s market entry, enabling the company to produce and sell its products and potentially license its technology for other applications.
Alexei Andreev, co-founder and managing director of Autotech Ventures, remarked, “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.”
Gaussion’s approach introduces a new variable into the battery enhancement equation, offering a significant advantage over previous technologies that either displaced or replaced existing systems. This strategic innovation could provide step-change improvements across all battery chemistries, formats, and applications, making electrification more cost-effective without compromising on performance.
Dennis Atkinson, an investor at BGF, commented, “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 join the journey.”
Gaussion’s technology holds promise for a wide range of applications, making it a versatile solution in the energy storage market. The performance enhancements and extended battery life facilitated by the external magnetic field could accelerate the adoption of electric vehicles and other electrified equipment, meeting the growing demand for efficient and powerful energy storage systems.
