Harvard-Backed Entrepreneur Creates A Revolutionary EV Battery That Charges In 3 Minutes And Lasts 20 Years
Adden Energy, a Harvard-backed business, has created an electric vehicle battery that can be fully charged in three minutes and lasts 20 years, which is more than twice as long as current EV batteries.
The business has gotten $5.15 million in funding to bring the revolutionary battery to market. The Office of Technology Development at Harvard has granted an exclusive license to the technology, and Primavera Capital Group spearheaded the investment effort with contributions from Rhapsody Venture Partners and MassVentures.
After successfully showcasing a coin-cell prototype with 5,000–10,000 lifetime charging cycles, as opposed to the existing best-in-class batteries’ 2,000–3,000 cycles, the startup will now enhance the technology. The startup believes that it is crucial that clean energy storage technology develops quickly.
William Fitzhugh, CEO of Adden Energy, aims to win over the 37% of Americans without garages at their residences who lack access to overnight charging for EVs at home. According to Fitzhugh, “complete electrification of the automobile fleet is one of the most significant moves we can take to combat climate change.”
“However, a wide range of consumer needs must be met by batteries for electric vehicles to be widely adopted. Essentially in the time you spend at the gas pump now, EVs need to recharge at equivalent intervals as internal combustion vehicles, he added.
According to many analyses, electrifying all global automobiles could cut greenhouse gas emissions by 16%.
According to Xin Li, an associate professor at Harvard and a scientific advisor to Adden Energy, the US won’t have a used-car market if EV batteries barely last three to five years. The “one percent” of vehicles on the road, or luxury fashion, cannot continue to be electric vehicles.
Technology ought to be available to everyone. Our battery technology’s ability to scale up doesn’t seem to be restricted in any fundamental sense. That might alter the situation.
News Mania Desk
