A London-based tech firm has secured £9.7 million in funding to develop a revolutionary battery charging system.
Gaussion, a spin-off from University College London, has developed a technology that uses magnetic fields to dramatically improve battery performance. The company says its system can enable rapid charging without damaging cells, a major hurdle in the widespread adoption of electric vehicles.
The funding round was led by Autotech Ventures, with participation from BGF and UCL Technology Fund. The investment will be used to bring Gaussion’s technology to market, expand its team and potential licensing of its technology for other applications.
The company believes its game-changing trademarked MagLiB charging technology has the potential to transform a wide range of industries, from electric vehicles to renewable energy storage.
Tom Heenan, Gaussion CEO and co-founder, said: “In many applications, we are observing that efforts to rapidly electrify are delayed or blocked due to the cost of raising the ceiling of battery performance. Whereas magnetic enhancement could provide step-change improvements across all chemistris, formats and applications, aaffordably unlocking electrification without compromising on cost and performance.”
