After successfully demonstrating a prototype button-sized battery that can achieve a 3-minute charge rate and a life cycle of more than 10,000 cycles, Adden Energy, a spin-off from Harvard University, recently closed a new funding round of $5.15 million, which will allow the company to further commercialize the battery.
The startup says the rapid development of clean energy storage technology is critical to combat the “disaster” of climate change. To promote such adoption, Adden Energy CEO William Fitzhugh is targeting Americans who don’t have a garage at home (about 37 percent) and can’t charge their electric vehicles at home.
Fully electrifying vehicles is one of the most meaningful steps we can take to combat climate change,” Fitzhugh said. However, the widespread adoption of electric vehicles requires batteries that can meet a wide range of consumer needs …… Electric vehicles will need to be charged in the same amount of time it takes to refuel an internal combustion engine vehicle, essentially the same amount of time you currently spend at the gas station.” Estimates suggest that the electrification of the world’s fleet alone could reduce global greenhouse gas emissions by 16 percent, and this “new battery paradigm” is critical to achieving that goal.