ESG Today reports that Gaussion is a spinoff startup from the University College London that offers technologies to improve EV batteries. The company employs an external magnetic field during the charging and discharging of the batteries, enabling faster charging top-ups, as well as extending the lifespan of these cells.

The startup's team discovered that, compared to traditional lithium-ion cells, its technology is able to improve charging times by as much as 67%. The solution can be applied across electrified transportation and other industries, such as construction and mining equipment.

Tom Heenan, Gaussion CEO and co-founder, said that "in many applications, we are observing that efforts to rapidly electrify are delayed or blocked due to the cost of raising the ceiling of battery performance. Whereas magnetic enhancement could provide step-change improvements across all chemistries, formats and applications, affordably unlocking electrification without compromising on cost or performance."

The new capital, which was enabled by investors such as Autotech Ventures, will enable the company to reach the market, including to manufacture and sell its products.