PR84534

BEER SHEVA, Israel, June 25, 2020, /PRNewswire=KYODO JBN/--

The company's groundbreaking nanotechnology significantly improves performance

of Li-Ion batteries used in electric vehicles, drones and energy storage plants

CENS Materials [https://censmaterialsltd.co.il/ ], 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

[https://elbitsystems.com/page-category/about-us/open-innovation/ ], 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 solution is a powder in/powder out process, therefore it does not affect

the existing production line and does not require infrastructure modifications.

It is based on the common Li-Ion technology with an addition of one industrial

step in the process. Furthermore, this solution can cause cobalt to be a

redundant component in the battery, which might have a huge impact on cost and

environment.

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.

Photo - https://mma.prnewswire.com/media/1195828/CENS_Materials.jpg 

Media Contact:          

Tamar Ayalon

+972-54-910-3166

tamar@gopositive.co.il

SOURCE: CENS Materials