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META Ventures invests in an innovative battery startup

11/02/2019

MV Poland Fund has invested 2,4M € in The Batteries, an innovative materials engineering company aiming to deliver mobile device batteries with twice capacity

META’s INGENIUM Poland Fund has invested 2 400 000 € in The Batteries, an innovative materials engi-neering company, aiming to deliver mobile device batteries with twice the energy capacity of current Li-Ion batteries. This could be a game changer as the new technology with a competitive price allows also for faster charging and withstands higher number of cycles in much wider temperature range. Further-more the new technology is safer and can reduce environmental impact of batteries. 

The Batteries company was created by a team of engineers with over 20 years’ experience in developing technical solutions for key producers in the premium smartphone market. The Batteries has patented a manufacturing process able to create solid state thin film solid batteries (TFB) at highly competitive prices.

Better Batteries in every way

Thin film batteries (TFB) are produced using thin film instead of conventional "bulk" technology, that typically includes pressed powders (cathode), porous materials (anode, separator) and liquids or gels (electrolyte). Thin film technology allows eliminating the additives, achieving high-crystallinity structure of the battery cell. Complete cell is less than hundred micrometers thick. All those results in unmatched parameters of a battery pack. Currently the TFB technology is known and has its narrow applications; however the high cost of production makes it unsuitable for consumer electronics and other practical utilization. Most of companies in the area of rechargeable batteries are inventing or applying new materials just for anode or electrolyte and this could have only minor improvements. The Batteries' approach is based on well recognized materials and laboratory approved methods combined with their complex expertise in the development of technology and equipment for serial production. 

The Batteries has patented a process and equipment that creates thermal evaporation with high-density plasma in vacuum environment which allows for depositing high quality layers in a very cost efficient way. The team has proven record of delivering electronic components for leading manufacturers of the premium smartphone market. The innovation combined with expertise will result in a battery that has twice the energy density, can be charged in about 10 minutes and have extended life (charge/discharge cycles). Furthermore thanks to solid state technology TFB are not explosive, can be produced in various shapes and forms (conventional Li-ion batteries have restrictions) and are capable of operation in wider temperature range.

Apart from revolutionizing today's mobile devices, TFBs open up new applications in fields as diverse as implantable medical devices, drones, wearable electronics and the Internet of Things (IoT). According to Zion Market Research, the global market for rechargeable Li-ion batteries was ~26bn in 2016, forecasted to grow at a 13.7% CAGR to €56.4bn by early 2023.

The Batteries is introducing an innovation using proven technology combined with solid expertise and  therefore  is a perfect example of a type of startup INGENIUM Poland Fund invests in: knowledge-based, with a revolutionary product for huge global markets. META's equity investment will support the initial R&D, creating working prototypes of both manufacturing equipment and an advanced battery cell. Once proven, a pilot production plant – and a much bigger investment - will follow. 

Profile: The Batteries - new energy for mobile devices
More information: https://thebatteries.tech/