CENS claims to develop nanotechnology that significantly improves the performance of batteries used in electric vehicles and its solution will help extend the driving range without additional battery cost and shorten the charging time by tens of percent.
New Delhi: CENS, a portfolio company of Incubit Ventures on Friday announced that it has completed an investment round of $1.5 million, led by the UK based investor Vincent Tchenguiz.
Vincent Tchenguiz has been a prominent foreign investor in Israeli hi-tech.
As per the release, CENS has developed a proprietary, industrial process, that significantly increases the battery’s capacity and cuts the charging time, both of which are critical elements for the electric car industry.
CENS said its solution is based on a material called CNT, carbon nanotubes and lithium-ion. The company claims that its industrial process can be integrated into the existing industry, with no change of infrastructure required, thus offering an improvement of the battery capacity, and its charging time, with no additional costs.
The release further added that academic efforts have been made in the past to infiltrate carbon nanotubes into batteries, but none has achieved an effective dispersion without significantly changing the price.
Also, the technology enables the manufacturing of batteries that do not contain cobalt, an otherwise expensive material.
The company’s CEO and founder, Michael Bromfman, an expert in Nanotechnology said, “The investment will serve us to move forward, from the development phase to the pre-commercial phase and establish a semi-industrial plant capable to manufacture premium batteries with enhanced capacity that will be supplied to top OEMs and Tier 1 in the EV industry, with whom the company is already in business relations.”
He further added, “Our unique, deep research-based technology, has the potential to disrupt the market and remove the bottleneck in the electric car industry – the battery performance and cost.”