Nanoramic Laboratories, a next-generation battery technology startup, signed a Memorandum of Understanding (MoU) with Avesta Battery & Energy Engineering (ABEE), an engineering company specializing in energy storage technologies for automotive and stationary applications.

The two companies plan to collaborate in the future to develop and commercialize advanced Li-ion batteries. Furthermore, the MoU also established the intent for a strategic partnership and commercial license of Nanoramic’s Neocarbonix at the Core electrode technology.

Nanoramic’s Neocarbonix at the Core electrode technology provides heightened battery performance through the use of an advanced hyper-conductive 3D nanocarbon binding structure. Batteries made with this technology showed higher energy density, power, 15-minute fast charging, long cycle life, better safety and recyclability, and lower cost per kWh.

Furthermore, this partnership leverages both companies' expertise and technological innovations to develop, upscale, and produce battery cells at giga-scale for automotive and energy storage system (ESS) customers. In line with this, ABEE plans to build two battery gigafactories in Europe to manufacture and develop advanced Li-ion batteries for the automotive and ESS industries.