Adden Energy
Assembly Line
Adden Energy Raises $15M to Expand Accessibility of Electric Vehicles
Electric Vehicle (EV) adoption is one of the most meaningful steps an individual can take to combat climate change. Yet, current battery performance is holding back many consumers from electrification. Beyond the issue of range, EV batteries are slow-charging, have short lifetimes, and are intrinsically dangerous systems. Adden Energy has developed lithium-metal solid-state battery technology that solves these issues. To scale production and bring this technology to car manufacturers, the company has raised $15M in a Series A round led by At One Ventures.
The funding, led by At One Ventures with participation from Primavera Capital Group, Rhapsody Venture Partners, and MassVentures, will be used to construct a roll-to-roll pilot line production facility at Adden Energy’s headquarters in Waltham, MA. The company has already demonstrated technology that can deliver the world’s fastest lithium metal battery in EV-compatible, commercially acceptable pouch cell form-factors. This Series A funded production line will enable them to scale the size of the batteries 100x.
Adden Energy’s next-generation batteries are on track to reach the ambitious goal of EV parity with internal combustion engines by 2028. Based on solid-state battery technology originally developed at Harvard, Adden Energy combines two technologies that have long been goals of the EV industry – lithium metal and fast charging.