This week's briefing highlights advances in battery technology, wireless charging and electric school transport, alongside major funding activity in artificial intelligence and European growth-stage investment.
Market developments
Ten-Nine scales production of battery life-extension technology
Ten-Nine Technologies has begun commercial-scale production of TENIX, a battery cathode additive designed to improve lithium-ion battery longevity and performance. The company's Tulsa, Oklahoma facility can produce 100 tonnes annually, enough to support between 50,000 and 200,000 EV battery packs depending on chemistry and dosage rates. TENIX is designed to reduce the chemical degradation that occurs during charge and discharge cycles, with third-party testing indicating more than 75% additional charge-discharge cycles compared with conventional batteries. The technology could extend EV battery life from roughly 150,000 miles to over 265,000 miles while supporting the wider adoption of lower-cost, manganese-rich battery chemistries.
San Francisco school district begins electric bus rollout
Zum has started deploying electric school buses for the San Francisco Unified School District following several years of testing and preparation. The first vehicles are already in daily operation, with additional buses scheduled to enter service throughout autumn 2026. Since 2022, the company has evaluated multiple vehicle configurations in San Francisco's challenging operating environment, which includes steep gradients, dense traffic and varied microclimates. Charging infrastructure has been installed ahead of vehicle deliveries, while drivers have received hands-on training. The electric buses will operate through Zum's AI-powered CMX platform, which integrates routing, dispatching, schools, families and drivers in real time.
Payment experience emerges as next challenge for EV adoption
As EV charging infrastructure expands across the UK, attention is increasingly turning towards the customer payment experience. In an interesting article, EV Infrastructure News argues that consumers now expect charging to be as seamless as other everyday transactions, yet charging networks often require different apps, memberships and payment methods. While regulatory measures such as contactless payment requirements, reliability standards and roaming arrangements are improving consistency, interoperability remains uneven. The article identifies consistency, low friction, reliability and transparent pricing as critical factors in improving customer satisfaction and supporting wider EV adoption as the market matures.
Infrastructure & policy
WiTricity expands wireless charging development capabilities
A new development and testing facility in Stuart, Florida will support WiTricity's efforts to accelerate deployment of wireless EV charging across passenger vehicles, autonomous fleets and commercial transport. The site focuses on inductive charging systems ranging from 7.2kW to 50kW, using vehicle-mounted receivers and ground-based charging pads to transfer electricity wirelessly through magnetic coupling. The company sees particular potential in autonomous vehicles and robotaxis, which could recharge independently without human intervention. WiTricity has previously demonstrated its technology on vehicles including the Tesla Model 3 and Ford Mustang Mach-E and continues to develop higher-power solutions for buses and industrial vehicles.
Deals
Mistral secures €3bn in record European AI funding round
French AI company Mistral has raised €3bn in Series D funding, valuing the business at more than €21bn and thus marking one of the largest equity fundraising rounds completed by a European technology company. Samsung Electronics led the round, which also included investors such as the EU's Scaleup Europe Fund and PSG Equity. Mistral plans to use the capital to expand frontier AI research, increase computing capacity, strengthen infrastructure and accelerate global commercial growth. The company now serves more than 125 enterprise customers across 20 countries and continues positioning itself as a provider of sovereign AI solutions.
Molten Ventures launches £175m growth fund
Molten Ventures has completed the first close of its new Growth Fund at £175m, establishing a dedicated vehicle focused on later-stage technology businesses across the UK and Europe. The fund includes a £75m cornerstone commitment from the British Business Bank and £100m from Molten Ventures itself, with plans to expand the vehicle to £350m. Targeting Series B and later-stage companies, the fund aims to address a shortage of growth capital available to scaling technology firms. Investment priorities include artificial intelligence, fintech, quantum computing, deep technology, hardware and space technology.
See you next week.