Entrada Ventures is excited to lead the recent Seed round in nanotechnology company, Coreshell Technology. Coreshell is a prime example of many things we look for in a company: a strong and balanced founding team with expert domain knowledge, a robust technical foundation, and a fundamental understanding of bringing a high-quality product to market. What's more, we firmly believe that the company's mission—accelerating the use of renewable energy and next-generation batteries—is a business worth getting behind.
Coreshell is developing liquid-deposited nanolayer coatings intended to improve battery production, energy density, and lifetime. The company specializes in developing an electrode coating technology to enhance the battery capacity and costs to accelerate the commercialization of electric vehicle and grid storage markets.
Unlike other battery improvement solutions, Coreshell's thin-film battery electrode coating unlocks a higher level of performance than previously accessible for existing and next-gen battery technologies. The coating technology increases usable battery capacity, improves safety, and significantly reduces cost/kwh. What's more, Coreshell can be easily integrated into the standard roll-to-roll processes within battery manufacturing — without inflating costs or reducing factory output.
With the transportation sector producing over 25% of greenhouse gas emissions that cause climate change, the race is on to shift the world to sustainable transportation options. But battery limitations and manufacturing costs have kept electric cars at price premiums that most people can't afford. Coreshell is on a mission to democratize clean energy with the world's first battery coating technology that drastically increases capacity while easily slotting into the existing manufacturing process.
"If we can make electric vehicles affordable and cost-competitive against combustion engine vehicles, people won't have to pay a premium to participate in the movement to address climate change," said Jonathan Tan, CEO of Coreshell Technologies. "Our battery coating technology can reduce the price of batteries in electric vehicles by 30 to 50%. We're on a mission to solve the battery capacity problem while bringing costs down for everyone so together we can democratize energy and help make sustainable transportation a reality for more people."
Electric vehicles are currently cost-prohibitive, with batteries comprising 35-50% of the total cost of an electric car. Batteries are also the significant barrier to growth and scale for auto manufacturers and have prevented electric vehicles from gaining enough market share to make a meaningful impact on climate change. Along with offering cost parity to combustion engines, Coreshell's technology improves battery energy density by 30-50% and can also extend lifetime and reduce fire risk. This has far-reaching implications for the energy and transportation sectors and is an essential step in preserving and enhancing performance while innovating batteries around constraints in size, application, and longevity.
"We see a future where all electric cars are powered by Coreshell," said Jason Spievak, General Partner at Entrada Ventures. "Battery innovation isn't new, but Coreshell is the only proven battery improvement technology that's ready for the real world. Coreshell's technology is a no-brainer for battery manufacturers and automakers looking to make a step-function improvement in battery capacity and performance without breaking the bottom line."