Adden Energy, a company specializing in lithium-metal solid-state battery technology, has raised $15 million in a Series A funding round led by At One Ventures. The investment aims to scale production and bring the company’s innovative battery solutions to electric vehicle (EV) manufacturers, addressing critical challenges such as range limitations, slow charging times, short battery lifespans, and high costs.
“Current EVs are suitable for those with access to at-home charging and primarily short commutes,” said Will Fitzhugh, Co-Founder and CEO of Adden Energy. “We need to provide battery solutions that make EVs competitive with internal combustion engines in every consumer-facing aspect.”
Adden Energy’s next-generation batteries are on track to achieve parity with internal combustion engines by 2028. The technology combines lithium-metal anodes with fast-charging capabilities, overcoming the issue of dendrite formation—a common problem that leads to battery failure and safety risks. The company’s self-healing solid-state separator, originally developed at Harvard University and exclusively licensed to Adden Energy, prevents dendrite growth by allowing the battery components to repair themselves during use.
“Our approach doesn’t rely on creating perfect batteries without defects, which is practically impossible,” explained Xin Li, Harvard professor and Co-Founder of Adden Energy. “Instead, we’ve designed components that dynamically self-heal while the battery is in use, stopping dendrite formation from both manufacturing defects and damage incurred during the battery’s lifetime.”
The company’s prototypes can charge in less than 10 minutes and offer nearly ten times the lifespan of conventional batteries. The new funding will support the construction of a roll-to-roll pilot production line at Adden Energy’s headquarters in Waltham, Massachusetts, enabling the company to scale battery size by 100 times.
“We are in the midst of an exciting transition from a fossil fuel economy to a materials economy, but we haven’t yet maximized the productivity of materials used in EV batteries,” said Laurie Menoud, Partner at At One Ventures and board member at Adden Energy. “With the added energy density of lithium-metal anodes, the cost per kilowatt-hour is expected to drop by 30%, significantly driving adoption.”
The investment comes at a pivotal time, with federal and state initiatives aiming to boost American competitiveness in battery manufacturing. Adden Energy has already received support from both the federal government and the state of Massachusetts.
Source: BusinessWire
