LONDON, July 25 (Reuters) - Israeli battery technology

company Addionics has raised $39 million from investors

including General Motors' ( GM ) venture capital arm to help

commercialise its copper and aluminium electrodes for electric

vehicle batteries, it said on Thursday.

GM Ventures co-leads the B Series funding round with Israeli

tech venture fund Deep Insight. Swedish truck maker Scania,

owned by Volkswagen's Traton also

participated in the investment round.

As well as investing in Addionics, GM and Scania are

potential customers for the company's porous, three-dimensional

copper and aluminium electrode battery materials that use less

material - including 60% less copper.

Addionics says the electrodes, which look like sheer silk

scarves when held up to the light, provide faster charging and

boost EV range by 30%. It forecasts savings for automakers up to

$7.50 per kilowatt hour.

"Addionics' current collector design shows promise in

enabling improved battery performance at a lower cost," GM

Ventures managing director Anirvan Coomer said in a statement.

"We are eager to support the company's growth and look forward

to continuing to explore opportunities to collaborate in the

future."

Earlier this year, Addionics said it plans a $400 million

U.S. factory to make copper anodes for EV batteries starting in

2027 to eventually supply enough for about 1 million EVs a year.

Addionics CEO Moshiel Biton said that in late 2024 the

company will start delivering battery cells to automakers to

test and that it is on track to deliver product at scale by 2027

or 2028.

He said the company has been working with or talking to

virtually all the major automakers in Europe, Japan and the

United States.

"Legacy automakers are losing money building EVs," Biton

said. "Any technology that allows them to reduce cost and

improve performance, that's the holy grail."