The adoption of electric vehicles still faces a major hurdle: the time-consuming and often harmful process of charging batteries. However, Gaussion, a spin-out of University College London (UCL), has developed a pioneering solution that could transform the industry.
By applying an external magnetic field during charge and discharge cycles, Gaussion technology enables faster charging while reducing cell degradation, thus extending battery life.
Gaussion’s innovative approach has attracted £9.5m in a Series A funding round led by Autotech Ventures, with participation from existing investors BGF and UCL Technology Fund, managed by AlbionVC in partnership with UCL Business. This new injection of capital will propel Gaussion towards market entry, supporting the production and sale of its pioneering products, as well as potential licensing opportunities for wider applications.
“Gaussion’s technology offers a new variant that enhances existing battery systems, rather than replacing them,” said Alexey Andreev, co-founder and managing director of Autotech Ventures. “By applying a magnetic field to existing battery designs, Gaussion dramatically enhances their performance without changing their underlying architecture. This holds tremendous potential across multiple markets.”
With a strong portfolio of patents, Gaussion is well positioned to revolutionize the battery industry, delivering scalable solutions to meet the growing demand for more efficient energy storage. Its technology has broad implications, including applications in transportation electrification, building and mining, residential energy storage, and utility-scale energy management.
“Efforts to rapidly electrify various sectors are often hampered by the high cost of improving battery performance,” said Tom Heenan, CEO and co-founder of Gaussion. “Our magnetic enhancement technology offers cost-effective advancements across all battery chemistries and applications, opening the door to widespread electrification without compromising affordability or efficiency.”
“Gaussion represents a truly innovative approach to one of the most important challenges in electric vehicles,” added Dennis Atkinson of BGF. “The remarkable progress the company has made, led by an outstanding team, demonstrates the enormous potential of its technology, and we are delighted to welcome Autotech on board.”
“The slow charging speeds and battery degradation that currently hinder mass adoption of electric vehicles are being directly addressed by Gaussion’s innovative technology,” commented David Grimm, Partner at University College London Technology Fund. “The company’s journey from university research to commercialisation is a testament to its pioneering work, and we look forward to supporting it as it expands.”
This latest round of funding comes at a pivotal moment for the EV market, as consumer expectations for ease of charging continue to rise. With this financial backing, Gaussion is set to make a significant impact on the future of EV charging. The latest funding builds on the company’s previous £2.85m seed funding, led by BGF and UCL Technology Fund in 2022.