UCL spinout Gaussion secures $12m to revolutionise battery charging

Charging speed remains a significant hurdle to overcome in the mass market adoption of passenger and commercial electric vehicles (EVs). Rapid charging under traditional electrochemistry is inherently unpredictable, often dangerously damaging cells and next-generation technologies such as solid-state electrolytes have repeatedly fallen short of deployment targets.

Gaussion has developed a novel solution that radically enhances battery performance using an external magnetic field during charge and discharge cycles to enable rapid charging by steering ions within existing battery cells. The magnetic field also lowers cell degradation, extending battery life. 

Investors see Gaussion technology as truly groundbreaking and are fueling the company’s efforts with a $12M capital raise. The Series A round was led by Autotech Ventures and supported by existing investors BGF and UCL Technology Fund, managed by AlbionVC in collaboration with UCL Business. The infusion of capital will enable Gaussion’s market entry which includes producing and selling its products and potentially licensing its technology for other applications.    

“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,” said Tom Heenan, Gaussion CEO and co-founder.  “Whereas magnetic enhancement could provide step-change improvements across all chemistries, formats and applications, affordably unlocking electrification without compromising on cost or performance.” 

David Grimm, Partner UCL Technology Fund said, “Slow charging speed and battery degradation are currently limiting the wide-scale adoption of electric vehicles and the broader energy transition. Dr. Tom Heenan and Dr. Chun Tan, co-founders of Gaussion, have managed to solve this problem by building an innovative solution from their university labs into a scaling company. Gaussion’s commercial application taps into a huge market need and we look forward to continuing to support them on their journey.” 

Gaussion’s most recent capital raise comes at a time when vehicle owner sentiment about EVs has reached a tipping point. EV buyers are demanding the same convenience of ICE vehicles, including fast “refueling,” and automakers are desperate for new solutions. The current raise follows a seed raise of £2.85 million led by BGF and UCL Technology Fund (UCLTF) in 2022.