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Adden Energy has raised $15 million in Series A funding, led by At One Ventures, to scale production of its self-healing solid-state batteries. This funding will enable the company to expand its battery technology, which aims to overcome key barriers to electric vehicle (EV) adoption—including range, charge rate, battery lifetime, and safety. Adden Energy’s lithium-metal solid-state batteries are designed to make EVs competitive with internal combustion engines by 2028.
Key Highlights:
- $15M Series A funding led by At One Ventures, with participation from Primavera Capital Group, Rhapsody Venture Partners, and MassVentures.
- Lithium-metal solid-state technology aims to solve issues like slow charging, limited range, and safety concerns.
- Self-healing solid-state separator prevents dangerous dendrite growth, improving battery safety and performance.
- Funding will be used to construct a pilot production facility at Adden Energy’s headquarters in Waltham, MA.
Adden Energy’s next-generation battery technology combines lithium metal and fast charging capabilities to address the limitations of current EV batteries. The company’s solid-state batteries, originally developed at Harvard, utilize a self-healing separator to eliminate lithium dendrite growth—a primary cause of battery failure. This advancement allows for faster charging and significantly increases the battery’s energy density and lifespan.
The Series A funding will support the construction of a roll-to-roll pilot production line to scale battery size and bring this innovative technology closer to mass production. Laurie Menoud, a Partner at At One Ventures, highlighted that this technology will reduce the cost per kilowatt hour by 30%, making EVs more affordable and driving broader adoption.
Adden Energy’s growth aligns with federal and state initiatives to boost American battery manufacturing competitiveness, such as the Inflation Reduction Act and the Bipartisan Infrastructure Law. The company has received support from the federal government and the State of Massachusetts. Economic Development Secretary Yvonne Hao emphasized the importance of Adden Energy’s work in advancing clean energy and helping Massachusetts lead in climate technology innovation.
Adden Energy is set to make a significant impact in the EV industry by improving battery performance, affordability, and safety. With ambitious plans to achieve EV parity with internal combustion engines in the coming years, the company aims to revolutionize the electric vehicle market and accelerate the transition to sustainable transportation.
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