H.C. Starck Tungsten Powders, a manufacturer of tungsten powder, announced an investment of £45 million (~$53 million) into Nyobolt, a fast-charging Li-ion battery solutions company.
The investment will help fund Nyobolt’s construction of its anode manufacturing facilities and R&D centers.
Nyobolt is commercializing lithium-ion batteries with high power density and ultra-fast charge capabilities. Their technology builds on a decade of fast charge lithium-ion battery research led by University of Cambridge battery scientist Professor Dame Clare Grey.
According to the company, its niobium and tungsten-based anode systems outperform other Li-ion anode technologies.
“This investment marks a milestone in our strategy to move further downstream and get closer to consumers by developing new, innovative applications, including our recently trademarked “starck2charge” battery materials product range. Nyobolt’s technology is a real breakthrough that we can help commercialize based on our vast experience in transferring innovative solutions into large-scale manufacturing. This partnership will also accelerate the development towards a circular economy for batteries via enhanced recycling and new models of use,” said Hady Seyeda, CEO of H.C. Starck Tungsten Powders.
Along with the funding, both companies plan to collaborate in battery recycling, tungsten supply, cathode technology, and manufacturing know-how and infrastructure.
“Fast charging remains a critical unmet need as the world electrifies with more sustainable forms of energy – a need our technology addresses. We are excited about the partnership with H.C. Starck and see it as a stepping stone to increase scale and speed to market, revealing the true potential of Nyobolt technologies. The Series B funding will put Nyobolt in the driving seat of a fast-moving battery industry and allow us to showcase the uniqueness of our battery technology, developed by our team of experts, which is set to transform the energy storage industry. With H.C. Starck’s investment and technologies, Nyobolt will expand its manufacturing capabilities while minimizing its carbon footprint with an effective recycle and reuse program,” Said Sai Shivareddy, CEO and Co-founder of Nyobolt.
According to Mercom’s Q1 2022 Funding and M&A Report for Storage, Grid, and Efficiency, total corporate funding (including VC, Debt, and Public Market Financing) in Battery Energy Storage came to $12.9 billion in 26 deals compared to $4 billion in 27 deals in Q4 2021.