Gaussion, a spinoff from University College London specializing in fast-charging technology for batteries, has successfully closed its Series A funding round, raising €10.9 million. The company, co-founded by Tom Heenan and Chun Tan, aims to address the persistent challenge of charging speed, which remains a significant barrier to the widespread adoption of electric vehicles (EVs) for both passenger and commercial use.
Gaussion has developed an innovative solution that utilizes an external magnetic field during charging and discharging cycles to enhance battery performance. This technology promises to enable battery manufacturers to produce batteries that can deliver a 200-mile (320-kilometer) charge in under 10 minutes, addressing the demand for quicker “refueling” times comparable to those of conventional combustion vehicles. On its website, the startup emphasizes that its approach not only speeds up charging but also reduces cell degradation and extends battery life.
“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,” said Tom Heenan, CEO of Gaussion. “Whereas magnetic enhancement could provide step-change improvements across all chemistries, formats, and applications, affordably unlocking electrification without compromising on cost or performance.”
The company’s technology is designed to complement, rather than replace, existing battery 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,” noted Alexei Andreev from lead investor Autotech Ventures. “We see tremendous opportunities in a variety of markets.”
With a strong portfolio of patents and patent applications, Gaussion is poised to revolutionize the battery industry. The company’s innovation has potential applications across a range of sectors, including transportation, construction, mining, and residential energy storage. Dennis Atkinson, an investor at BGF, added, “Gaussion is an innovative business that has developed a unique solution to one of the most pressing issues in the EV battery space. The strong progress so far, led by an exceptional team, highlights the potential of their technology, and we are excited to have Autotech now join the journey.”
