Jun 7, 2019

Battery startup lands its first customer

Ina Fried, author of Login

Amionx, which is trying to build safer batteries, has landed its first customer.

Why it matters: Batteries are increasingly central to all manner of digital devices, from phones to electric cars — and yet their very nature compresses volatile components into tight spaces, creating risks of fire and explosion.

The latest: The still-small San Diego firm's first customer is a large, well-known consumer electronics maker, who they can't name. The customer plans to use the technology in multiple products.

Where it stands: They are just at the beginning of the relationship, so products with their technology aren't likely to hit until at least next year. The company is also in talks with other firms, including a luxury car maker as well as other makers of laptops, cell phones and power tools.

How it works: Amionx's technology works by adding a material to the battery that acts something like an internal fuse that can be triggered whenever a current, voltage or temperature threshold is exceeded. 

Go deeper: The battery tech Samsung wishes it had last year

Go deeper

Updated 12 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 6,294,222 — Total deaths: 376,077 — Total recoveries — 2,711,241Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,811,277 — Total deaths: 105,147 — Total recoveries: 458,231 — Total tested: 17,340,682Map.
  3. Public health: Nearly 26,000 coronavirus deaths in nursing homes have been reported to federal health officials —Coronavirus looms over George Floyd protests across the country.
  4. Federal government: Trump lashes out at governors, calls for National Guard to "dominate" streets.
  5. World: Former FDA commissioner says "this is not the time" to cut ties with WHO.
  6. 🎧 Podcast: The virus didn't go away.

More than 1 in 6 black workers lost jobs between February and April

Adapted from EPI analysis of Bureau of Labor Statistics data; Chart: Andrew Witherspoon/Axios

As is often the case, the staggering job losses in the coronavirus-driven recession have been worse for black workers.

By the numbers: According to a report from the Economic Policy Institute, titled "Racism and economic inequality have predisposed black workers to be most hurt by coronavirus pandemic," more than 1 in 6 black workers lost their jobs between February and April.

Coronavirus could lower GDP by $15.7 trillion

Reproduced from Congressional Budget Office; Chart: Axios Visuals

The CBO released projections on Monday for U.S. nominal GDP to be lower by $15.7 trillion over the next decade than its estimate in January as a result of the coronavirus pandemic.

What they're saying: It predicts that when adjusted for inflation GDP will be $7.9 trillion lower over the next decade and down by $790 billion in the second quarter of this year — a 37.7% quarterly contraction.