Australian battery tech startup targets US market with fresh funds
- Admin
- Apr 26, 2024
- 1 min read
Investors led by Indian chemical conglomerate Himadri Speciality Chemical and Australian venture capital firm Artesian have invested AUD 22 million ($14.9 million) in Sicona Battery Technologies to support the company's work with battery density-boosting technology. Sicona is working to commercialize its high-capacity silicon anode technology which has been flagged as a possible game-changer for the lithium-ion (Li-ion) batteries that dominate the electric vehicle and renewable energy storage market. Sicona's core product is an innovative silicon metal-based silicon-composite battery anode technology. This technology enables more than a 50% increase in the energy density of existing Li-ion batteries. The recent funding round will enable Sicona to establish a battery component manufacturing facility in the United States due to the significant interest in their materials from North American automotive companies.
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