GDI raises additional $11.5 million to scale up EV battery anode production

LONDON (Reuters) -Battery materials startup GDI said on Tuesday it has raised an additional $11.5 million in Series A funding to scale up production of silicon anodes for electric vehicle batteries in the United States and Europe. The Rochester, New York-based company said the additional funding was led by Helios Climate Ventures, Impact NY, and InnoEnergy and brings its total Series A raise to over $20 million. CEO Rob Anstey said the funding will help the company scale up production at its pilot plant in the Netherlands within the next 24 months to start providing anodes to battery manufacturers.