ESG Today writes that Addionics, startup founded in 2018, develops battery technologies that can enable EV manufacturers to increase their production, while lowering the overall costs associated with the process. The company's solution, called “3D Current Collectors”, is a drop-in technology that allows for higher energy density in a battery pack, faster charging times and better safety.

Moshiel Biton, CEO and Co-Founder of Addionics said that "as the global demand for higher performing batteries grows, so too has the demand for our product. With the new funding, we will be able to begin commercial production by the end of the year, delivering our technology to battery manufacturers and enhancing battery performance globally."

The funding will be used to expand the startup's global teams and market reach, as well as to build the company's first US-based mass manufacturing plant. Scania was among the other investors that participated in the 39 million USD Series B round.