Latest news with #siliconanodes
Reuters
19-05-2025
- Automotive
- Reuters
GDI raises additional $11.5 million to scale up EV battery anode production
LONDON, May 20 (Reuters) - Battery materials startup GDI said on Tuesday it has raised an additional $11.5 million in Series A funding to scale up production of silicon anodes for electric vehicle batteries in the United States and Europe. The Rochester, New York-based company said the additional funding was led by Helios Climate Ventures, Impact NY, and InnoEnergy and brings its total Series A raise to over $20 million. GDI says its anodes provide 30% more energy density than conventional graphite anodes and charge times of under 15 minutes for EVs. CEO Rob Anstey said the funding will help the company scale up production at its pilot plant in the Netherlands within the next 24 months to start providing anodes to battery manufacturers. Anstey said GDI has already signed a joint-development agreement with an EV cell manufacturer, which should mean its anodes will be in battery cells in drones and medical devices within the next 24 to 30 months and in EVs on the road by 2030. He declined to say which cell manufacturer GDI has signed a contract with. "Normally it takes about five years" to get into an EV program with an automaker," Antsey said. "We do believe we can be in the next generation of EVs and have a design win by 2030." The company is one of a number of startups developing silicon anodes, including Nexeon, Group14 Technologies and Sila Nanotechnologies, all touting better performance than graphite. China refines more than 90% of the world's graphite into the material used in almost all EV battery anodes. Last year the European Investment Bank provided 20 million euros ($22.5 million) in loans and equity to GDI to scale up production and the additional funding is intended to match part of that loan facility. ($1 = 0.8894 euros)
Associated Press
08-05-2025
- Automotive
- Associated Press
Coreshell Appoints Industry Veteran Young-Duk Kim as Executive Vice President of Manufacturing & Commercialization
Former Ultium and LG Energy Solution executive brings industry-scale expertise to accelerate Coreshell's next phase of growth SAN LEANDRO, Calif., May 8, 2025 /PRNewswire/ -- Coreshell, a battery technology company, today announced the appointment of Young-Duk Kim as Executive Vice President of Manufacturing and Commercialization. Kim brings over two decades of leadership experience in battery manufacturing and R&D. Most recently, he served as the factory head for Ultium Cells Tennessee, a joint venture between General Motors and LG Energy Solution, where he led the successful greenfield launch of a 45 GWh battery facility. Prior to that, he held Vice President roles at LG Energy Solution, leading global operations, R&D and open innovation, and product design with leading OEMs. Kim's arrival comes at a pivotal moment for Coreshell as the company transitions from technical diligence to commercial-format qualification with global OEMs and rapidly scales its manufacturing capabilities. He will lead operations and implement the company's strategy to expand its manufacturing footprint, starting with its newly built 4 MWh facility in San Leandro, California, and the development of a 100 MWh site. With Kim's leadership, Coreshell is well-positioned to meet the growing demand of commercial samples of 60 Ah battery cells incorporating Coreshell's metallurgical silicon anodes to global automakers in 2025. Until now, no battery company has been able to unlock the full potential of metallurgical silicon for EV-scale production. Coreshell has achieved a breakthrough by solving key silicon-related challenges through its proprietary nanomaterials and cell design, which enable the use of low-cost, earth-abundant materials to create affordable, high-performance batteries. By harnessing minimally processed metallurgical silicon sourced domestically and costing nearly half as much as graphite, Coreshell's batteries deliver over 30% more range while reducing cell costs by up to 25%. This innovation not only improves performance and economics, but also significantly reduces the industry's dependence on Chinese graphite, a supply chain vulnerability for most EV manufacturers. 'Young-Duk is one of the few people in the U.S. who has successfully commissioned a battery gigafactory,' said Jonathan Tan, CEO of Coreshell. 'As we ramp up production, his deep understanding of both battery R&D and high-volume manufacturing - combined with his proven leadership - will be instrumental in our transition from startup to commercial battery producer. His addition to our executive team underscores Coreshell's commitment to delivering at scale for OEMs, partners, and investors.' 'What drew me to Coreshell is its unique ability to combine breakthrough battery performance with scalable, cost-effective manufacturing,' said Young-Duk Kim. 'Having built and led gigafactories, I recognized the opportunity to leverage my experience in bridging the gap between innovation and scalable production. I am excited to help build the foundation for commercial success and collaborate with the team and our partners to drive the company's next phase of growth.' About Coreshell Coreshell provides the lowest-cost, high-performance silicon anodes on Earth. Coreshell's proprietary technology unlocks the performance of metallurgical silicon, which has ten times the capacity of current battery anodes at significantly lower costs. Headquartered in California, Coreshell partners with the leading global producer of high-purity metallurgical silicon, battery manufacturers, and auto OEMs committed to the clean energy transition. Media Contact: Nadia Jamshidi [email protected] View original content to download multimedia: SOURCE Coreshell Technologies
