The global landscape of electric vehicle (EV) battery innovation is experiencing a seismic shift, with China emerging as a frontrunner, leaving the rest of the world behind. This disparity is becoming increasingly evident as major manufacturers struggle to keep pace with China’s advancements.
For example, a renowned Japanese automotive giant, Nissan, recently celebrated a significant milestone in developing solid-state batteries. These batteries, known for their lightweight nature and extended range compared to traditional lithium-ion counterparts, were hailed as a breakthrough. However, China had already taken a significant leap forward. In April, Nio, an innovative EV manufacturer, achieved a historic feat by commercially introducing solid-state batteries in their vehicles with the assurance of full replaceability. Concurrently, China marked another milestone with the inauguration of its inaugural large-scale sodium-ion battery energy storage station. This development signals the potential for next-generation EV batteries that reduce reliance on scarce and costly lithium resources.
The ongoing race underscores growing concerns in Europe and the United States about China’s seemingly uncontested dominance in the EV sector.
In this article, we will delve into the world of EV battery startups, identifying ten promising startups that offer opportunities for acquisition or investment. These startups hold the potential to not only catch up with China’s advancements but also pave the way for global leadership in the rapidly evolving EV industry.
EV Industry Innovation Reports
This article provides information on ten such startups. However, you can download our exclusive report on 30 Startups innovating battery technologies by filling out the form below.
1. Cygni Energy
| Website | https://www.cygni.com/ |
| HQ | India |
| Funding Amount | $21.6 Million |
| Investor | RTBI, Endiya Partners, Sasken Communication Technologies, and IndusInd Bank |
What makes the Startup different from others?
Customized Lithium-ion Battery Packs – Cygni believes each battery application has unique requirements and necessitates a unique solution. Its battery packs are custom-tailored, technologically better, and distinctive to meet India’s diversified and complex transportation needs. (Source)
Built-in Battery Protection – The advanced lithium-ion battery from Cygni is more efficient and long-lasting. It has a built-in battery protection mechanism that protects and maintains the battery. (Source)
What Innovative Products and Services are offered by the Startup?
EV 2-Wheeler Battery – EV 2-Wheeler Batteries are available in 24V, 48V, and 60V nominal voltages. Thermal Management, Swappable Batteries, GPS monitoring, and Automatic Cell Balancing are some of the features of the batteries. (Source)
EV 2-Wheeler Battery – 24V (0.67 KWH), 48V (1.34 KWH), 60V (1.44 KWH)
E-Rickshaws Batteries – 48V (3.12 KWH) and 51V (3.57 KWH)
E-Rickshaws Batteries – These are 3-W Li-Ion Battery Packs for E-Rickshaws with a nominal voltage of 48V and 51V. Their Battery capacity is up to 200 Ah. Quick Recharge, Surge Protection, Better Thermal Management, and Maintenance Free are the features of the batteries. (Source)
What are the Awards the Startup has received?
Cygni Energy has been awarded “Company of the Year in Battery Manufacturing” & “Battery Management System Innovation of the Year – Storage System” at the EV Battery Tech 2021 Awards Ceremony. (Source)
Which Companies are using the Startup’s Products/Services?
Cygni Energy has several clients, including Bounce, Tata Power, Ampere, Zomato, Kinetic, Marcedes Benz, Airtel, and Atumobile. (Source)
2. GQenergy
| Website | https://www.gqenergy.it/ |
| HQ | Italy |
What differentiates the Startup from others?
Solid-State Graphene Technology – GQenergy designs and manufactures solid-state graphene batteries. The firm’s battery has an energy density of 252 Wh/kg. A graphene stratification and a physical process formed within the cell allow for a continual regeneration current, maintaining a nearly constant charge. (Source)(Source)
What Innovative Products and Services are offered by the Startup?
Graphene Quantum Cell Battery – GQenergy created the first ‘Quantum Cell’ battery, named the Graphene Quantum Cell battery, which could output considerable amounts of voltage and current. The physical mechanism inside the Cell allows for a continual regeneration current, allowing for a nearly constant charge to be maintained. (Source)(Source)
How many Patents does the Startup have?
Gqenergy has filed 4 patent applications. All applications are yet to be granted. The startup has filed patents in Italy, the US, and Europe.
3. PJP Eye
| Website | https://pjpeye.tokyo/ |
| HQ | Japan |
| Funding Amount | $700K |
What differentiates the Startup from others?
Solid-State Carbon Battery Technology – PJP Eye produces solid-state carbon batteries. It can be put on future electric-assisted bicycles or modified batteries of present versions. Aside from bicycles, battery supplies include golf carts and small buses recognized as green slow mobility vehicles. Furthermore, responding to numerous genres, such as electric car remodeling, is feasible. (Source)(Source)
What Innovative Products and Services are offered by the Startup?
Cambrian™ Carbon Batteries – Cambrian™ Carbon Batteries comes in two different type- Single Carbon Battery and Dual Carbon Battery. Metal oxides and carbon are used as positive and negative electrodes in single-carbon batteries. It also supplies dual carbon batteries, which employ carbon as both electrodes. ((Source)(Source)
4. Intecells
| Website | https://intecells.com/ |
| HQ | United States |
| Funding Amount | $2 Million |
| Investors | Walden International |
What differentiates the Startup from others?
Cold Plasma Powder Coating – Intecells uses cold plasma powder coating (CPC) to manufacture batteries with 3D topologies and excellent performance appropriate for any application. The cold-plasma-based 3D printing process fundamentally alters how battery cells are created, opening almost infinite options for battery cell form and arrangement. (Source)
What Innovative Products and Services are offered by the Startup?
Solid-State Lithium-Ion Batteries – Intecells produce batteries with less energy, materials, and equipment utilizing solid-state, low-cost lithium-ion battery manufacturing technology. Intecells’ solid-state battery manufacturing technique applies to all types of electric vehicle batteries. The company’s solid‐state electrode design utilizes only materials that directly contribute to battery capacity, power, and safety. (Source)(Source)(Source)
How many Patents does the Startup have?
Intecells Inc. has filed 10 patent applications. Out of 10 applications, 7 are pending, while 3 patents are granted. The startup has filed patents in the US, Germany, and Japan.
Which Companies are using the Startup’s Products/Services?
The companies using Intecells solutions include Plasmatreat, Centrepolis Accelerators, Walden International, Berkeley Lab, and Material Science & Engineering. (Source)
5. Ion Storage Systems
| Website | https://ionstoragesystems.com/ |
| HQ | United States |
| Funding Amount | $52.7 Million |
| Investors | Alsop Louie Partners, Clear Creek Investments, VoLo Earth Ventures |
What makes the Startup different from others?
Patented Nonflammable Ceramic Structure – Ion Storage Systems makes use of materials that are nonflammable and inexpensive. This one-of-a-kind structure enables the use of the dense ceramic electrolyte as a separator. The nonflammable technology provides safe operation, higher abuse tolerance, and volume and weight savings. (Source)(Source)
Lithium Metal Anode – The lithium metal anode provides a high energy density and compatibility with various cathode technologies. When infused into the porous ceramic structure, it produces consistent and continuous routes for Li+ and electrons, resulting in lower resistance and higher energy density. (Source)
What Innovative Products and Services are offered by the Startup?
ION+ – ION+ is a non-flammable ceramic structured solid-state lithium metal battery. The lithium metal anode in the batteries allows maximum energy density, compatibility with diverse cathode technologies, and dramatically increases energy density extending the electric vehicle range. The batteries also provide fast-changing technology that meets the ARPA-E and DOE VTO Fast-Charge Li-cycling current density goals at room temperature. (Source)(Source)
What are the Awards the Startup has received?
Ion Storage Systems received the US Advanced Battery Consortium award in 2020. (Source)
6. Sakuu
| Website | https://www.sakuu.com/ |
| HQ | United States |
| Funding Amount | $16.3 Million |
| Investors | Tessellate Ventures, Musashi Seimitsu Industry |
What differentiates the Startup from others?
3D Printed Solid-State Batteries – Sakuu launched a new industrial-grade 3D printer for e-mobility batteries in 2021, claiming that it will enable the widespread use of electric vehicles. Sakuu plans to enable the rapid and high-volume manufacture of 3D-printed solid-state batteries (SSBs) that have the same capacity as lithium-ion batteries but are half the size and nearly a third lighter. Sakuu believes that the technology will boost both manufacturer and customer confidence. (Source)
Multi-Material Multi-Process AM Platform – The Sakuu AM platform, created wholly in-house, combines Powder Bed Fusion and Binder Jetting technology, allowing for various multi-materials in a single-layer capacity. Sakuu’s AM platform produces SSBs with greater energy density, thin monolithic layers, and a faultless interface. (Source)
PoraLyte – Sakuu’s patented support component is PoraLyte. This carrier material is designed to allow for the easy and quick 3D printing of cavities-free components without the need for fragile ceramic layers. (Source)
What Innovative Products and Services are offered by the Startup?
KeraCel™ Solid-State Battery – KeraCel™ solid-state battery cells are 3D-printed solid-state batteries with half the size and a third the weight of conventional lithium-ion batteries but offer the same energy content. Furthermore, 30 to 50% less material is utilized in the batteries to produce the same energy output. The batteries are easily recyclable and produced at high rates of speed, and they are claimed to revolutionize consumer adoption of electric vehicles. (Source)(Source)
How many Patents does the Startup have?
Sakuu has filed 16 patent applications. Of these, 11 are still pending, while 5 have been granted. The startup has filed patents in Europe, the US, and South Korea.
Which Companies are using the Startup’s Products/Services?
Sakuu has partnered with several companies, including Honeywell and Musashi Seimitsu Industry Co., Ltd. (Source)(Source)
7. Allotrope Energy
| Website | http://allotrope.energy/ |
| HQ | United Kingdom |
| Funding | £5.3 Million |
What makes the Startup different from others?
Lithium-Carbon Technology – Allotrope Energy’s lithium-carbon technology blends the advantages of supercapacitors with standard lithium-ion batteries to create a cell that can be recharged quickly while retaining a high energy density. An organic electrolyte separates a high-rate battery-type anode and a high-capacity electric double-layer capacitor (EDLC)-style cathode in the technology. (Source)
Capacitor-Style Cathode – Its capacitor-style cathode allows for a significantly longer lifetime than traditional batteries, while the absence of rare-earth metals and the design’s total recyclability make it better for the environment during manufacturing and long after. (Source)
What Innovative Products and Services are offered by the Startup?
Lithium-ion Capacitor – It is the battery cell for small EVs that combines supercapacitors with lithium-ion batteries to provide ultra-fast charging with high power density. The battery cells combine the benefits of supercapacitors with traditional lithium-ion batteries. The batteries are temperature stable, allowing for a high current supply and quick recharging. The battery cell suffers none of the thermal degradation effects of traditional lithium-based batteries, and the capacitor-style cathode has a lifetime of over 100,000 cycles and is 100% recyclable. They suit a wide range of small EVs, including e-scooters. (Source)(Source)(Source)
Lithium-Carbon Cells
8. Capacitech Energy
| Website | https://www.capacitechenergy.com/ |
| HQ | United States |
| Funding Amount | $897.3K |
| Investors | Creative Destruction Lab |
What makes the Startup different from others?
Cable-Based Capacitor (CBC) Technology – The company’s Cable-Based Capacitor (CBC) technology is a flexible supercapacitor that stores energy in a wire-like form factor meant to be utilized off circuit boards. It may also be utilized to offset capacitors from the circuit board to the wiring infrastructure to minimize the size of electronics. (Source)
What Innovative Products and Services are offered by the Startup?
Cable-Based Capacitor – The Cable-Based Capacitor (CBC) developed by Capacitech Energy is a flexible supercapacitor that stores energy in a wire-like form factor that can be used off circuit boards. It can also reduce the electronics size by offsetting capacitors from the circuit board to the wiring infrastructure. The CBC works with batteries to help with peak power, enhance power quality, offer backup power, minimize EMF/EMI, and miniaturize electronics. The capacitors can be used in various applications, including electric vehicles. (Source)(Source)(Source)
How many Patents does the Startup have?
Capacitech Energy has filed 2 patent applications. Both applications are yet to be granted.
9. Titan Advanced Energy Solutions
| Website | https://titanaes.com/ |
| HQ | United States |
| Funding Amount | $44.5 Million |
| Investors | HG Ventures, Energy Innovation Capital, SE Ventures, US Department of Energy |
What makes the Startup different from others?
Ultrasound-Based Technology – Titan combines ultrasound-based technology and advanced algorithms to detect and analyze the condition and charge of lithium-ion batteries in real-time. The system gives information on the battery system’s state of charge (SoC) and state of health (SoH). Ultrasound employs high-frequency (over 20kHz) radiation to conduct diagnostics and produce real-time measurements. (Source)(Source)
Advanced Signal Processing And Machine Learning – Titan employs advanced signal processing and machine learning to monitor the degradation of Li-ion batteries cycle by cycle, providing insight to electric vehicle manufacturers, ESS providers, consumer electronics businesses, and battery manufacturers on how to maximize the capacity, longevity, and security of their batteries and battery-powered products. (Source)
What Innovative Products and Services are offered by the Startup?
U-BMS™ – Titan’s Ultrasonic Battery Management System, U-BMS™, converts an open-loop system to a closed-loop system and enables higher range, lifetime, and safety for batteries and battery-powered products. The U-BMS incorporates ultrasonic sensors into the battery system, which, when combined with machine learning algorithms, provide real-time intelligence on a battery’s health condition, state of charge, and safety factors. For certified pre-owned EVs and second-life repurposing, it enables safe, fast charging and enhanced battery health knowledge. (Source)
Others – Scorpion™ and BAQA™ are the other offerings of the company. (Source)(Source)
Scorpion™
The Battery Manufacturing Opportunity
Which is the Award the Startup has received?
Titan won a second U.S. Department of Energy award in 2021 for building an early warning system to detect dangerous lithium-ion batteries and a Phase I award in 2020 for developing a prototype of the device. (Source)
Titan was named one of seven U.S. Department of Energy (DOE) Lithium-Ion Battery Recycling Prize Phase II winners in 2020. (Source)
How many Patents does the Startup have?
Titan AES has filed 7 patent applications, all of which have yet to be granted. The startup has filed patents in the US, China, Europe, and Taiwan.
Which Companies are using the Startup’s Products/Services?
Titan’s customers include Schneider Electric, Energy Innovation Capital, and Massachusetts Clean Energy Center (MassCEC). (Source)
10. ION Energy
| Website | https://www.ionenergy.co/ |
| HQ | India |
| Funding Amount | $4.6 Million |
| Investors | Venture Catalysts, YourNest Venture Capital, Climate Capital, Climate Pledge Fund, Riso Capital |
What makes the Startup different from others?
Electronics Platform-as-a-Service (Paas) Model – ION’s revolutionary electronics platform-as-a-service (PaaS) model challenges the business of traditional electronics providers by giving complete production autonomy, technical transparency, and 30-40% cost reductions. (Source)
Customizable & Configurable – ION uses a model-based design approach, allowing users to tailor the BMS to match the application’s needs with the battery’s capabilities. Users can change over 200 settings related to power distribution, ignition controls, balance, charger management, and much more. (Source)
Paralleling Batteries – ION’s FS-LT and FS-XT BMS are developed with paralleling algorithms to accommodate not only 2 batteries but up to 18 batteries linked in parallel. It also guarantees that batteries are linked in parallel only when their voltages are equivalent. (Source)(Source)
What Innovative Products and Services are offered by the Startup?
FS-LT – The FS-LT Battery Management System is a centralized BMS that combines battery monitoring and system management into a single device. The FS-LT can be coupled in a parallel design with separate contactors on each battery pack to monitor up to 25 cells independently. The FS-LT BMS is, therefore, an excellent option for battery swapping applications and works with all major lithium-ion battery chemistries. It applies to light electric and hybrid vehicles, motorcycles, scooters, and 3-wheelers. (Source)(Source)
FS-CT – The FS-CT Battery Management System is a low-voltage battery management system. It is available in 5S and 10S versions and supports a variety of battery chemistries. It is a programmable single-board compact architecture and uses advanced algorithms to estimate the State of Charge (SOC) and State of Health (SOH). They can be used in light electric and hybrid cars and motorcycles, scooters, and three-wheelers. (Source)(Source)
FS-XT – The FS-XT Battery Management System for high-voltage batteries is typically constructed by connecting numerous smaller battery modules in series or parallel. It comprises a master unit, a System Monitoring Unit (SMU) that can connect up to 24 slave units, and a Battery Monitoring Unit (BMU). Each BMU may monitor six to eighteen cells in a row. It is applicable in passenger, commercial, and industrial electric vehicles. (Source)(Source)
Which Companies are using the Startup’s Products/Services?
ION Energy is trusted by 75+ Automotive OEMs and Battery Pack Manufacturers, including Wamtecknik, Ray Electric Motors, IBS, EsVolta, Ola Cabs, Okinawa Scooters, Tata Motors, and Airbus. (Source)(Source)
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