Israeli Battery Technology Firm Addionics Announces $400 Million U.S. Factory

Israeli battery technology company Addionics has unveiled plans to construct a $400 million factory in the United States, aiming to manufacture copper anodes for electric vehicle (EV) batteries. This ambitious project, slated for completion in 2027, is expected to eventually produce enough anodes to power roughly 1 million EVs annually.

The factory will be built in three distinct phases, with the first phase costing $120 million. Addionics is currently exploring the possibility of securing up to $50 million in funding through the U.S. Inflation Reduction Act (IRA) grants. CEO Moshiel Biton revealed that the company is evaluating two potential locations for the plant, which will source its copper entirely from recycled materials.

This announcement comes amid a surge in battery plant development in the United States, primarily driven by the incentives outlined in the IRA. The act aims to bolster domestic clean energy production and reduce reliance on foreign supply chains, particularly for critical components like EV batteries.

Addionics' innovative technology centers on the development of three-dimensional, porous copper and aluminum electrode materials for batteries. These materials, described as resembling "sheer silk scarves" in appearance, boast significant advantages over conventional battery components. They require substantially less material – a notable 60% reduction in copper usage – and contribute to faster charging times and extended EV range (up to 30% increase).

Furthermore, Addionics has secured letters of intent from several automakers operating assembly plants within the U.S. While Biton declined to disclose the names of these automakers, the company's advancements in battery technology have garnered significant interest from the automotive industry.

This U.S. factory represents a critical step forward for Addionics, enabling them to scale up production and cater to the growing demand for next-generation EV batteries. Their innovative approach to battery technology, coupled with the potential support of the IRA, positions Addionics as a key player in the global race to develop sustainable and efficient solutions for electric vehicles.

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