Addionics, a startup that makes 3D electrodes for electric vehicle batteries, said on Wednesday it had raised $27 million in a funding round led by Daimler AG's Mercedes-Benz Cars battery division. Addionics said on Wednesday it had raised $27 million in a funding round led by Daimler AG's Mercedes-Benz Cars battery division. The company plans to use the money to scale up its production of 3D electrodes.

Israeli battery technology company Addionics said on Tuesday it has raised $27 million to scale up its three-dimensional electrode technology that reduces electric vehicle battery costs and boosts performance. This will help the company achieve its goal of making electric vehicles more affordable and practical for consumers.
The Tel Aviv-based company said investors in its Series A round included aluminium recycler Novelis, auto supplier Magna International and Talcar Corporation Ltd.
Addionics' technology replaces the electrode's traditional two-dimensional layered structure with an integrated three-dimensional structure, which it says creates batteries with increased energy density and power, and improves safety by dissipating heat more quickly during charging.
As carmakers race to bring more electric vehicles (EVs) to market, they are seeking ways to boost the range of their vehicles to give them a competitive edge. This includes exploring new chemistries.
"Our electrodes are porous and have a greater surface area," said Biton. "This increases energy density and lowers battery costs by 10%."
Biton said that with a 3D structure, you can create more real estate, to load more material and increase your energy density. He said that the next step is to scale up the technology and bring it to the market.
He added that the startup has already tested its electrode technology with some German carmakers and major auto suppliers, without giving names.
Addionics will use part of the funds raised to scale up its technology and build two production lines, in Israel and the United Kingdom.