The world of Electric Vehicles has good news. Adden Energy, a Harvard-backed startup, has developed a game-changing battery for electric cars. The new battery can be fully charged in three minutes and would last for 20 years!
The technology has got an exclusive license from Harvard’s Office of Technology Development. The startup received a funding of $5.15 million in funding to commercialise the unique battery. Primavera Capital Group and Rhapsody Venture Partners and Mass Ventures led the round.
The startup has successfully demonstrated a coin-cell prototype with 5,000-10,000 charging cycles in a lifetime. Currently, the industry-best EV battery has 2,000 – 3,000 charging cycles. Adden Energy will advance the technology now.
Studies have shown that electrification of all vehicles globally could cut down greenhouse gas emissions by 16 per cent. However, currently, electric vehicles are not quite rampant. Lack of ample battery charging facility and long charging duration are two obstacles consumers face now. The new invention might solve that dilemma.
