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Green Dragon Secures $11.5M for Revolutionary EV Batteries

Green Dragon's silicon anodes could charge EVs in under 15 minutes. With $11.5M in funding, it's one step closer to making this a reality.

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In the picture we can see a car engine with pipes, battery in it.
In the picture we can see a car engine with pipes, battery in it.

Green Dragon Secures $11.5M for Revolutionary EV Batteries

Green Dragon International (GDI) has secured $11.5 million in Series A funding, boosting its mission to revolutionise electric vehicle (EV) batteries with its innovative silicon anodes. The company's anodes offer a significant leap in energy density and charging speed, promising a future where EVs can charge in under 15 minutes.

GDI's silicon anodes provide a remarkable 30% more energy density than conventional graphite anodes. This breakthrough, combined with rapid charging times, positions GDI as a key player in the EV battery landscape. The company has raised over $20 million in Series A funding, with Helios Climate Ventures, Impact NY, and InnoEnergy leading the latest round.

GDI is not alone in its pursuit of silicon anode technology, but it has made significant strides. It has secured a joint-development agreement with an EV cell manufacturer, aiming to integrate its anodes into drones, medical devices, and EVs by 2030. Moreover, BMW has entered into a development agreement with GDI, further validating the company's technology. Last year, the European Investment Bank provided GDI with a $22.5 million loan and equity to scale up production.

GDI plans to scale up production at its pilot plant in the Netherlands within the next 24 months. This will enable the company to supply battery manufacturers with its cutting-edge anodes, paving the way for their inclusion in the next generation of EVs. CEO Rob Anstey is confident that GDI's anodes will secure a design win by 2030.

GDI's successful funding round and strategic partnerships demonstrate the potential of its silicon anode technology. With its promise of increased energy density and rapid charging, GDI's anodes could significantly enhance the EV driving experience. As the company scales up production, it moves closer to delivering on its vision of a future where EVs can charge as quickly and conveniently as conventional cars.

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