Mobilion Ventures and Nexus Automotive International announced that ALGOLiON Ltd. has been acquired by General Motors Co. As a certified service supplier to all the Nexus community, ALGOLiON took part in the start-up exhibition at the Nexus Business Forum in Vienna in 2022, Nexus said.
ALGOLiON, which received early support from the Israeli Innovation Authority, was founded in 2014 by Dr. Niles Fleischer and Dr. Alex Nimberger. Fleischer has more than 40 years experience in the battery industry and has more than 80 patents in the field. Nimberger has deep military and civilian experience in all aspects of lithium-ion battery, Nexus said.
The acquisition was led by the newly formed Technology Acceleration and Commercialization (TAC) organization, a group within GM that works to identify emerging technology that can support GM’s position in battery development through investments, acquisitions or partnerships. ALGOLiON employees, including the company’s founders, will remain based in Israel and join more than 850 employees at the GM Technical Center in Herzliya, Israel.
The company has developed sophisticated software that uses data streams from EV Battery Management Systems to help identify anomalies in cell performance to ensure proper vehicle health management and provide early detection of battery hazards including thermal runaway propagation events. Its unique algorithm can identify miniscule changes that could impact on battery health weeks earlier than other methods in use today without additional hardware or sensors, all whilst the battery is still operating properly.
Avi Feldman, managing partner of Mobilion Ventures, said: “We are extremely proud of ALGOLiON’s team and Niles Fleischer and Alex Nimberger for this amazing accomplishment. This is further evidence of this great technology and team choice of Mobilion Ventures, the only investor in ALGOLiON. Together with Nexus and our partners, we will continue to invest in the top start-ups that will shape the future of mobility.”
Gaël Escribe, CEO of Nexus Automotive International, added: “Congratulations to all the ALGOLiON team! This operation is indeed the proof that electrification is a huge milestone in the automotive aftermarket industry. As a leader, our role is to support the on-going transformation!”
