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Harvard battery spinout Adden Energy is raising $26.6 million as it looks to commercialize its solid-state batteries, per an SEC filing.

Why it matters: Manufacturing new batteries is costly and complex.

Zoom in: The Waltham, Mass.-based company closed on almost $17 million, which included shares issued in connection with a secondary transaction.

Follow the money: Existing investors include At One Ventures, Primavera Capital Group, Rhapsody Venture Partners, and MassVentures.

Adden Energy closed a $15 million Series A in 2024 to build a pilot production line for its solid-state batteries.

The big picture: Solid-state batteries have been in development for decades and swap out a traditional liquid electrolyte with a solid layer.

They tend to have longer range, can be charged more quickly, and are safer, since they don't use flammable liquid electrolytes.

Automakers like Toyota, Nissan and Mercedes-Benz are investing heavily in the technology to make better EVs.

How it works: The tech at the core of Adden Energy's battery is a solid-state separator that the company calls "self-healing."

Solid-state batteries can grow what are called "dendrites," or filaments that emerge through the charging process and can short out the battery.

Adden says its separator stops dendrites by filling in cracks that dendrites grow along in real time.

Reality check: Many companies have tried and failed to scale prototype solid-state batteries into commercial mass-market products.

What's next: Adden Energy has said it's hoping to have its batteries powering EVs on roads in 2028.

Adden Energy raising $26.6M for solid-state batteries

It's making a "self-healing" battery separator and aims to get its batteries in EVs by 2028.

Illustration of a battery icon with hundred dollar bills as the bars indicating that it's full. 

Harvard battery spinout Adden Energy is raising $26.6 million as it looks to commercialize its solid-state batteries, per an <a class="gtmContentClick" data-vars-link-text="SEC filing" data-vars-click-url="https://www.sec.gov/Archives/edgar/data/1912559/000191255926000003/xslFormDX01/primary_doc.xml" data-vars-content-id="d322b4f1-08d5-4560-b240-0e50b4890476" data-vars-headline="Adden Energy raising $26.6M for solid-state batteries" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.sec.gov/Archives/edgar/data/1912559/000191255926000003/xslFormDX01/primary_doc.xml" target="_blank">SEC filing</a>.Why it matters: Manufacturing new batteries is costly and complex.

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Adden Energy raising $26.6M for solid-state batteries

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