Collaboration focuses on increasing energy density and cost reduction in future GM EV batteries
GM Ventures participates in OneD’s Series C $25 million funding round
PALO ALTO, Calif., and DETROIT – General Motors Co. (NYSE: GM) and OneD Battery Sciences announced today the execution of a joint research development agreement focused on the potential use of OneD’s silicon nanotechnology in GM’s Ultium battery cells to drive significant increases in energy density for longer range and reduced cost. GM Ventures and Volta Energy Technologies also participated in OneD’s Series C funding round, which the company recently closed at $25 million.
The focus of the collaboration is OneD’s SINANODE platform, which adds more silicon onto the anode battery cells by fusing silicon nanowires into EV-grade graphite. Silicon can store 10 times more energy than graphite. Increasing energy density can open the door to smaller, lighter, more efficient battery packs that could achieve higher driving range at lower cost.
“GM designed Ultium to be a supremely flexible platform so we can continuously improve our cells as battery technology advances,” said Kent Helfrich, GM chief technology officer, vice president of GM research and development, and president of GM Ventures. “Our collaboration with OneD will focus on efforts to continue advancements in EV range, performance and cost.”
The collaboration on silicon anode technology is believed to be the first of its kind between two American companies. GM is rapidly scaling its Ultium EV Platform to reach 1 million units of annual EV manufacturing capacity in North America by 2025. Earlier this year, GM’s first Ultium Cells joint venture battery plant began production in Ohio, with two additional U.S. plants under construction and a fourth also planned.
At the same time, GM is building on more than a decade of advanced battery research and development with its new Wallace Battery Cell Innovation Center in Warren, Michigan, which was completed earlier this year to help significantly ramp up development and production of next-generation Ultium batteries, along with production methods that can quickly be deployed at battery cell manufacturing plants.
Fifteen years of OneD research and development has led to a portfolio of more than 240 granted patents. This enables OneD’s business model to center on licensing the SINANODE technology to industrial partners and scale manufacturing faster and at a lower cost. Given a licensing business model and low operational costs, Series C funds will be used to continue SINANODE research and development, while advancing pilot production and providing OEMs and battery manufacturers a seamless integration into the manufacturing of EV batteries via licensed manufacturing partners.
“From day one, OneD has aimed to simplify silicon as the means to a completely new era of EVs. We believe that the winners of the EV race will be those who can effectively add more silicon to the battery cell, in a way that doesn’t disrupt existing supply chains and processes,” said Vincent Pluvinage, CEO,
OneD Battery Sciences. “We’re thrilled to collaborate with General Motors on our shared goal of accelerating mass EV adoption.”
About OneD Battery Sciences
OneD Battery Sciences is the creator of SINANODE, the breakthrough technology that successfully adds more energy-dense silicon into the anodes of EV batteries. The company operates a SINANODE pilot production program to support the development of advanced electrochemical cells and the production scale-up of its industrial partners. In 2013, OneD Battery Sciences acquired Nanosys’ nanowire technologies (SINANODE) and its Palo Alto R&D activities. Today, the Palo Alto-based company has over 240 granted patents and applications in large scale anode production and innovative EV battery designs.
About General Motors
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgement about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of important factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.
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CONTACTS:
Jackie Pomposelli
OneD (Headstand Group)
617-833-7358
oned@headstandgroup.com
David Caldwell GM Communications
586-899-7861
david.caldwell@gm.com
Priscilla Zuchowski GM Communications
630-927-2469
priscilla.zuchowski@gm.com
