Gaussion, a University College London spin-off specializing in battery fast-charging battery technology, has successfully closed its Series A funding round, raising €10.9 million. The company has developed a novel approach to improving battery performance using external magnetic fields during charge and discharge cycles.
Founded by Tom Heenan and Chun Tan, Gaussion aims to address the persistent challenge of charging speed, which they identify as a significant barrier to the widespread adoption of electric vehicles in both the consumer and commercial sectors. The company’s technology reportedly enables battery manufacturers to produce units capable of providing a 320-kilometer weekly charge for an average electric vehicle in less than 10 minutes.
Gaussion’s solution uses an external magnetic field to control ions within existing battery cells, potentially overcoming the limitations of conventional fast-charging methods, which can be unpredictable and damaging to cells. This approach is also said to reduce cell degradation and extend battery life.
CEO Tom Heenan highlighted the technology’s potential to enable electrification across multiple applications without compromising cost or performance. The company’s innovation is designed to work with existing battery technologies, expanding possibilities rather than replacing current solutions.
Lead investor Autotech Ventures, represented by Alexei Andreev, highlighted the versatility of Gaussion’s approach, noting its potential to enhance established battery technologies across multiple markets.
With a global patent portfolio, Gaussion aims to revolutionize the battery industry by providing a scalable solution for more efficient energy storage systems. The technology shows promise for applications beyond transportation, including construction equipment, mining and residential energy storage.
BGF investor Dennis Atkinson expressed enthusiasm for Gaussion’s progress and the potential of their technology in addressing critical issues in the EV battery space. This funding round marks a significant milestone for Gaussion as it seeks to advance its innovative charging technology in the rapidly evolving electric vehicle and energy storage markets.
