Overview
- An independent investigation led by Ziroth and more than 20 battery experts published Tuesday found that a tested Donut Lab cell behaves like a standard lithium‑ion battery and not the advertised sodium‑ion solid‑state technology.
- Experts pointed to voltage readings near 3.7–3.8 volts at mid‑charge and graphite anode expansion patterns as technical evidence that lithium ions, not sodium, are the active charge carriers.
- Investigators estimated the cell’s energy density at about 298 Wh/kg, far below Donut Lab’s claimed 400 Wh/kg and inconsistent with the company’s promises of roughly 100,000 cycles and five‑minute recharges.
- Reporting traced the material chain to German supplier CT Coatings and found Nordic Nano had not produced commercial cells, and whistleblower Lauri Peltola helped expose the firms’ reliance on limited internal tests.
- Finnish financial regulators and criminal authorities are reported to be examining the case, leaving more than 1,300 largely retail investors exposed and raising questions about possible misleading fundraising and corporate disclosures.