New York-based GDI, a global researcher and manufacturer of silicon anode technology, announced on Wednesday that it has raised $13.3M (approximately €13.5M) in a Series A round of funding led by EIT InnoEnergy and Helios Climate Ventures.
GDI says the fresh capital will help it to scale production to over 100MWh by Q1 2024. GDI has already started its pilot production in Eindhoven, the Netherlands, and intends to reach 300kWh by the end of 2022.
The recent $13.3M adds to $3M (approximately €3M) in government funding from the US Army Research Labs, a Phase II SBIR from the US Department of Energy and the US Defense Logistics Agency.
GDI: What you need to know
Based out of Rochester, New York, GDI develops and manufactures next-generation 100 per cent silicon battery anodes in a scalable and cost-effective process for superior battery performance over standard lithium-ion batteries.