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'.

CENS process efficiently disperses CNT on Li-Ion battery cathode and anode powder. The process generates highly dispersed 3-D conductive network of CNT which drives Li ions along the nano tubes. This mechanism sharply increases battery capacity under high power mode

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.

Media Contact:

Tamar Ayalon

+972-54-9103166

tamar@gopositive.co.il

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Elbit Systems Ltd. published this content on 24 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2020 14:23:39 UTC