The company’s groundbreaking nanotechnology significantly improves performance of Li-Ion batteries used in electric vehicles, drones and energy storage plants
Beer Sheva, Israel – June 24, 2020 – CENS Materials, a portfolio company of Incubit Ventures completed an investment round of $1.5 million, led by the UK based investor Vincent Tchenguiz (Consensus Group), a prominent foreign investor in Israeli hi-tech. The company was established at Incubit, Elbit Systems’ technological incubator, investing in early stage, deep-tech startups.
CENS develops a proprietary, industrial process, that significantly increases the battery’s energy capacity and cuts the charging time, both are critical elements for electric vehicles (EV), drones, and other devices powered by batteries. CENS’ solution is based on carbon nanotubes (CNT), whose contribution to electrical conductivity is well known, but to date, no one has succeeded to implement this material into batteries without significantly increasing the cost.
CENS’ CEO and founder, Michael Bromfman, an expert in Nanotechnology, noted: “The investment will serve us to establish a semi-industrial plant capable of manufacturing premium batteries with an enhanced capacity that will be supplied to top OEMs and Tier 1 in the EV industry”. “Our unique, deep research based technology, has the potential to disrupt the market and remove the bottleneck in the EV industry – the battery performance and cost”.
About Incubit
Incubit, Elbit Systems’ Technological Incubator, is an Israel-based incubator, franchised by Israel Innovation Authority, committed to investing in deep technology: unique, differentiated, protected or hard to reproduce, based on technological or scientific advances. It helps entrepreneurs of deep technology navigate the journey from concept through POC and into product launching and business success.
About Vincent Tchenguiz (Consensus Group)
Consensus Group (CBG) is an investment company with portfolio in areas such as pharma, biotech, med-tech, cleantech, real estate and more. The company has an investment portfolio of $ 600 million worldwide, mostly in life sciences, cyber, and technologies that cope with climate change challenges.
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About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems. For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.
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