Gaussion raises $12m to revolutionise battery charging

Charging speed remains a significant hurdle to overcome in the mass market adoption of passenger and commercial electric vehicles (EVs). Rapid charging under traditional electrochemistry is inherently unpredictable, often dangerously damaging cells, and next-generation technologies, such as solid-state electrolytes, have repeatedly fallen short of deployment targets.

Gaussion, a University College London (UCL) spinout, has developed a novel solution that radically enhances battery performance. It uses an external magnetic field during charge and discharge cycles, to enable rapid charging, by steering ions within existing battery cells. The magnetic field also lowers cell degradation, extending battery life.

Investors see Gaussion technology as truly ground-breaking and are fueling the company’s efforts with a new $12m capital raise. The Series A round was led by Autotech Ventures, and supported by existing investors BGF and UCL Technology Fund (managed by AlbionVC, in collaboration with UCL Business). The infusion of capital will enable Gaussion’s market entry, which includes producing and selling its products, and potentially licensing its technology for other applications.

Alexei Andreev, Co-Founder & MD of Autotech Ventures, said: “Gaussion’s approach aims to expand the solution space, by introducing a new variable, rather than displacing or replacing existing technologies. They leverage the advancements of current battery cell giants and apply an external magnetic field to enhance the performance of established battery technologies without changing their core components. We see tremendous opportunities in a variety of markets.”

With a global portfolio of patents and patent applications, Gaussion is poised to revolutionise the battery industry, offering a viable and scalable solution to meet the growing demand for more efficient and powerful energy storage systems. This innovation holds promise for a wide range of applications, including transportation electrification, construction equipment, mining operations, residential energy storage, and utility-scale energy storage for load and phase balancing.

Gaussion’s most recent capital raise comes at a time when vehicle owner sentiment about EVs has reached a tipping point. EV buyers are demanding the same convenience of ICE (internal combustion engine) vehicles, including fast ‘refueling’, and automakers are desperate for new solutions. The latest raise follows a seed round of £2.85 million in 2022, led by BGF and UCL Technology Fund.

David Grimm, Partner at UCL Technology Fund, commented: “Slow charging speed and battery degradation are currently limiting the wide-scale adoption of electric vehicles and the broader energy transition. Gaussion’s Co-Founders, Dr. Tom Heenan and Dr. Chun Tan, have managed to solve this problem by building an innovative solution from their university labs into a scaling company. Gaussion’s commercial application taps into a huge market need and we look forward to continuing to support them on their journey.”