California-based Qnovo has received a Series B investment from Constellation Technology Ventures, the investing branch of Exelon Corporation. The battery performance company uses software algorithms to improve the battery charging process and extend battery life. Qnovo will work with Exelon to identify opportunities within the energy storage market that are suitable for its software.
Battery cell performance is improved with pulse modulation and a real-time electrochemical scan, “Through controlled stimulation of the battery throughout a charge cycle, Qnovo continually diagnoses a cell’s electrochemical processes in real-time. Cell degradation mechanisms are now visible, allowing Qnovo algorithms to minimize cell damage and extend battery lifespan.” Predictive analytics are also part of the product portfolio. The company says its technology can decrease charging times and increase battery lifespan.
“Qnovo’s core technology has shown to be immensely beneficial to consumer mobile devices.We continue to extend the performance of lithium-ion batteries,and look forward to working with Exelon to improve next generation clean energy storage systems,” said Nadim Maluf, Qnovo CEO.
Improving existing battery technology is obviously a good thing, and something intriguing about new battery chemistries was written on the Qnovo blog,
“Every time a research lab makes a new discovery, it is headline news and makes prime time TV. The reality is that the path from discovery in the lab to commercial deployment is extremely rocky. There have been dozens such discoveries in the past 5 – 10 years, yet virtually none have made it into wide commercial deployment. History tells us it takes over $1 billion and about 10 years for a new material to begin its slow commercial adoption cycle… and for now, the pipeline is rather thin. Additionally, present lithium-ion batteries continue to improve.”
It would be very interesting to know if the company’s technology works with EV batteries and potentially how much charging times might be reduced.
The company was founded in 2010 by a three-person team and it owns a slew of patents.
Other Qnovo investors are Rockport Capital, Intel Capital, BRV Lotus, US Venture Partners, and Sony.