British entrepreneur Vincent Tchenguiz backs Israeli battery startup

CENS develops nanotechnology meant to improve the performance of batteries for electric vehicles

British-Iranian entrepreneur Vincent Tchenguiz, through his investment firm Consensus Business Group, has led a $1.5 million round for Israel-based startup CENS Materials Ltd., the latter announced Thursday.

 

CENS was established in 2013 at startup incubator Incubit, a subsidiary of Israeli defense contractor Elbit Systems Ltd. located in Israeli southern city Be'er Sheva. The company develops nanotechnology meant to improve the performance of batteries for electric vehicles.

 

Vincent Tchenguiz has led a $1.5 million round in CENS Materials. Photo: Courtesy

 

The company intends to use the funds to establish a semi-industrial manufacturing plant for batteries containing CNTs to be supplied to original equipment manufacturers (OEMs) and Tier 1 auto parts makers in the electric vehicle industry, CENS founder and CEO Michael Bromfman said in a statement.