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Green energy: the great hope of electric vehicle manufacturers? - Voila! money

2023-06-06T08:42:05.574Z

Highlights: An Israeli start-up decided to try to solve the problem, in a market worth tens of billions of dollars. Electric vehicle charging: expensive batteries, long charging time and limited operating range. Only one in every 250 cars on the road worldwide is electric – just 2.2% of the global car market. The company claims that this change enables the creation of the next generation of batteries, since the technology it has developed allows for improved performance for each type of battery; Range, charging speed, battery life and safety, all while reducing its cost.


The problem with electric vehicles is the high production costs and short range of the batteries. An Israeli start-up decided to try to solve the problem, in a market worth tens of billions of dollars


Electric vehicle charging: expensive batteries, long charging time and limited operating range (Photo: ShutterStock)

Car manufacturers around the world have already put all their weight on the electric vehicle gas pedal, but are still running into safety, price, and efficiency issues.

Many drivers complain about the long charging time required for the batteries buried and powering electric vehicles, the relatively short driving distance that the energy contained in an average battery can provide, and the relatively high price of cars, about 30-50% of which on average is due to the cost of production and the value of the battery.

The average driving distance for an electric vehicle is about 402 km (250 miles), which does not allow, for example, continuous travel without charging from Tel Aviv to Eilat. And the average charge time for an electric car's battery takes about 5 to 10 hours on average on fast (rather than regular) chargers, depending on the type and size of the battery.

If that's not enough, then the price range for producing an electric vehicle battery is between $2,500 and $50,000, according to data collected and published by Motor and Wheels, depending on the type and model of the battery and the technology it contains. Some batteries, priced according to price per battery cell, exceed the specified upper price range.

These are also the main reasons why, although the electric car revolution is already here, only one in every 250 cars on the road worldwide is electric – just 2.2% of the global car market.

In order to accelerate and complete the transition to electric vehicles and green energy, better batteries are needed, and 3 materials and chemistry scientists with expertise in batteries decided to rise to the challenge and founded Adionix, which aims to solve all the problems facing the automotive world regarding electric vehicle batteries.

Adionix changes the internal structure of current collections made of two-dimensional metals, making the latter three-dimensional, thereby creating a much more efficient structure and a larger surface area.

The company claims that this change enables the creation of the next generation of batteries, since the technology it has developed allows for improved performance for each type of battery; Range, charging speed, battery life and safety, all while reducing its cost.

One of the advantages of the technology that developed Adionix is the ability to work with any type of battery technology (any type of chemistry, different types of lithium, silicon, and more) and integrate into any battery manufacturing plant that exists in the world today.

The EV battery market stood at about $49 billion in 2022 and is expected to be about $99 billion by 2029, estimating growth of about 10.5% year over year. That's according to data from Fortune Business Insights, an international market research and consulting firm.

Dr. Moshiel Biton, CEO and co-founder of Adionix (Photo: Addionics)

Addionics, ID

Field of Activity: Energy Tech

Founded: 2018 Founders: Dr. Moshiel Biton (39) who serves as the company's CEO, Dr. Farid Tariq (38

) the CTO, and Dr. Vladimir Yofit (45) the CSO.

Vision: To solve the biggest problems facing car companies today in the production of electric vehicles, with a simple and inexpensive solution that can be integrated into any assembly line and any type of battery.

Employees: 60. 40 of them are in Israel, 15 in London, 3 in the United States and 2 in Germany.

Total fundraising since its inception: $40 million.

Among the investors: Deep Insite, Catalyst Fund, Magna, Bridges Israel impact investment fund, Delek Motors, Talcar Corporation, Union Tech Ventures, Doral Energy Tech Ventures.

Among the company's customers: The company is still in the technology implementation stage, in which it cooperates with 3 out of the 10 largest international car companies, as part of a stage of technological feasibility, and is unable to share the names of the companies at this time.

Other companies operating in the field: battery manufacturing companies for electric cars such as Tesla. However, the company is the only one (as far as is known) that manufactures the technology of its product.

From the CEO: "Adionix aims to extend battery life in order to enable longer travel times and shorter charging times of electric vehicles, and to this end has developed a product that improves battery performance.

One of the advantages for car manufacturers is a significant reduction in battery costs, which in turn will also lead to lower prices of electric vehicles for end consumers, in which the battery component is significant. The more companies succeed in lowering the price of vehicles, the faster their adoption will come.

Adionix's goal is to offer an efficient and safe solution, with high performance and at a convenient, and even lower, cost than is currently accepted in the market.

Last February, we established a unique facility in Tel Aviv, and thanks to our investors and collaborations with some of the largest and leading companies in the world, we have a tailwind to continue developing our product until mass production, which will accelerate the electric vehicle revolution, which is an essential part of the future of the environment and green energy."

  • money
  • World money

Tags

  • Electric vehicle
  • Electric battery
  • Green Energy

Source: walla

All business articles on 2023-06-06

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