Addionics, a Israeli tech company known for their work in enhancing battery efficiency, plans to invest an impressive $400 million in the construction of manufacturing facilities across the United States. The goal behind this powerful strategy is to amplify domestic battery production for electric vehicles (EVs), an initiative that not only would create jobs, but also significantly amplify the nation’s transport sector’s sustainability.
Looking at a timeline, the beginning of production at the first site is set for 2027. By 2032, all sites should be fully operational. These state-of-the-art facilities are primarily designed to manufacture 3D copper foils, ambitiously aiming for an annual battery production capacity of 90GWh. The funding for such an endeavor is expected to come from a combination of grants, private equity, and debt financing.
Moving on to the specifics of production, the vision is for a three-stage, multi-factory plan that could generate thousands of tons of 3D copper foil per annum. Addionics sees this as a game-changer, a move that could drastically decrease battery costs in the U.S., enhance supply chain stability, and stimulate local battery production. It’s a positive domino effect that could lead to further technological innovation and more job opportunities.
In a recent statement, Addionics CEO Dr. Moshiel Biton emphasized the necessity of large-scale, cost-effective, high-performance battery production for the EV sector. He is optimistic that the forthcoming U.S. facility will be instrumental in speeding up the production of next-generation batteries.
A breakthrough by Addionics, their 3D Current Collectors, have proven to boost battery performance by modifying their internal physical structure. They have partnered with major Original Equipment Manufacturers (OEMs) and automakers in North America and Europe, putting their advanced technology on the map and the potential to revolutionize battery manufacturing.
Founded in 2017 by Biton, Vladimir Yufit, and Farid Tariq, Addionics maintains manufacturing sites in the US, Israel, the UK, and Germany. Fresh off a successful Series A funding round in January 2022, the company has raised $27 million. Deep Insight led the round with participation from Catalyst Fund, Delek Motors, and Dr. Boaz Schwartz.
