A Harvard-backed startup, Adden Energy, has developed a battery for electrical cars which has been considered to be as capable of absolutely charging in three minutes and lasting for twice that of current EV batteries or 20 years.

HIGHLIGHTS
The startup has received $5.15 million in funding
Fast development of clean energy storage technology was crucial
EVs were recharged at comparable times to internal combustion vehicles

Therefore, the startup has received $5.15 million in funding in order to commercialize the game-changing battery. The technology has received an exclusive license from Harvard's Office of Technology Development and the funding was led by Primavera Capital Group, along with the participation by Rhapsody Venture Partners and MassVentures.

The startup would currently advance the technology after it has been successfully demonstrating a coin-cell prototype with 5,000-10,000 cycles during lifetime that to against 2,000 to 3,000 charging cycles for the most effective at class batteries presently. As per the startup, the fast development of clean energy storage technology has been absolutely crucial.

William Fitzhugh the Adden Energy CEO had hoped to appeal to the 37 percent of American citizens without garages at home and has no access to at-home overnight charging for EVs. Fitzhugh has mentioned that 'complete electrification of the vehicle fleet has been considered as one of the most meaningful steps that we would be able to take in order to fight temperature change.' 

He even mentioned that 'However, broad adoption of electrical vehicles needs batteries which would meet a diverse set of consumer requirements. EVs should be recharged at comparable times to internal combustion vehicles, basically within the time you'd presently pay at the pump.'

Various studies have recommended that electrification of all world vehicles might cut down greenhouse gas emissions by 16 percent. 

An associate professor at Harvard and a scientific advisor at Adden Energy, Xin Li has mentioned that 'Electric vehicles could not remain a luxury fashion, which would be the 'one percent' of vehicles on the road, if we have a tendency to create progress towards a clean energy future, and at the same time the United States of America would not have a used-car market if EV batteries would last solely 3 to 5 years.'

'Technology need to be available to everybody. We do not see any basic limit to scaling up our battery technology. Which might be a game changer.'

Also Read: Rs. 40 Crore was Sanctioned as EV Purchase Grant by the Rajasthan Government