With site selection for the first factory in the final stages, the plant will be the world's first gigafactory-grade facility for 3D Current Collector™ copper foil production, and the first stage of Addionics's three-phase multi-factory plan aimed at strengthening U.S. battery production
CUPERTINO,Calif., Feb. 26, 2024 /PRNewswire/ -- Addionics, a provider of next-generation battery technologies, today announced a planned $400 million investment into its U.S. manufacturing facilities as part of a multi-year roadmap to support domestic EV battery production. The growing demand for high-performance EV batteries has put unprecedented pressure on battery manufacturers to ramp up production and bring down costs. Once completed the factories will generate 3D copper foils to support 90GWh of battery capacity a year, representing an exponential increase in US copper foil production, a critical battery component currently underserved in the market.
With substantial demand from American and European automotive and battery OEMs Addionics' first plant is expected to begin production in 2027, with additional plants expected to be completed by 2032. The three-phase multi-factory plan will produce tens of thousands of tons of 3D copper foil per year, reducing the overall cost of batteries in the U.S., strengthening supply chain stability, and bolstering domestic battery production.
"The ability to manufacture cost-effective high-performance batteries at scale is the biggest challenge facing the EV industry today," said Dr. Moshiel Biton, CEO and Co-Founder of Addionics. "The new U.S. facility will be our largest manufacturing facility to date, and will be able to support and accelerate the local production of the next generation of batteries that are powering the EV and electrified future."
"U.S. automakers are eager to bring the next wave of EVs to market at a price point to compete with gas-powered models," added Udi Chatow, VP of Manufacturing at Addionics. "The gap between market demand for high-performance low-cost batteries and what is being produced domestically is widening, and we are excited to be a part of the solution to bring domestic battery supply in line with demand."
Addionics' Smart 3D Current Collectors™ have emerged as the new industry standard for the next generation of batteries, delivering superior energy density, higher power, faster charging times, and a longer lifespan compared to traditional batteries - all at a lower cost.
About Addionics:
Addionics is a leading manufacturer of Smart 3D Current Collectors™ powering the next generation of batteries. Addionics' low-cost drop-in solution seamlessly integrates into existing production facilities, allowing battery manufacturers and automakers to increase production capacity while reducing manufacturing costs. By revolutionizing the internal physical structure of the battery, Addionics 3D Current Collectors significantly improves the performance of any battery regardless of its chemistry. Designed for commercial scale, Addionics has partnerships with major OEMs and automakers across North America and Europe.
Founded in 2017 by Ph.D. Moshiel Biton, Ph.D. Vladimir Yufit, and Ph.D. Farid Tariq, Addionics has production facilities in the U.S. and Israel, along with sites in the UK and Germany. Read more at www.addionics.com
Addionics Media Contact
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