OneD raises $25 million in Series C funds, enters R&D agreement with GM

GM and OneD Battery Sciences will cooperate to research the possible use of OneD’s silicon nanotechnology in GM’s Ultium cells.

Meanwhile, OneD has raised $25 million in Series C funding from investors including GM Ventures and Volta Energy Technologies.

“Given a licensing business model and low operational costs, Series C funds will be used to continue SINANODE research and development, while advancing pilot production and providing OEMs and battery manufacturers a seamless integration into the manufacturing of EV batteries via licensed manufacturing partners,” says GM.

OneD’s SINANODE platform includes technology that puts more silicon into anodes by fusing silicon nanowires into graphite.

“We believe that the winners of the EV race will be those who can effectively add more silicon to the battery cell, in a way that doesn’t disrupt existing supply chains and processes,” says OneD Battery Sciences CEO Vincent Pluvinage.

“GM designed Ultium to be a supremely flexible platform so we can continuously improve our cells as battery technology advances,” says President of GM Ventures Kent Helfrich. “Our collaboration with OneD will focus on efforts to continue advancements in EV range, performance and cost.”

GM says it is aiming for a production capacity of 1 million Ultium units in North America by 2025. The automaker is currently building two Ultium cell plants in the US and has plans for another in the works.

Source: GM