Tech

Nyobolt secures £ 50m investment in Series B led by HC Starck Tungsten Powders and IQ Capital – UK Technology Investment News

  • German materials pioneer HC Starck leads £ 50m Series B loan to Nyobolt, valuing the business at £ 300m.
  • The funding will help Nyobolt scale battery production for sectors including automotive and home appliances.
  • The partnership is set to bring sustainable, fast-charging energy storage solutions to global markets.

LONDON, July 15, 2022: NyoboltThe pioneers of end-to-end fast-charging battery systems today announce the initial closure of a £ 50 million loan in its Series B round that will allow the company to enter a full-scale production phase.

The £ 50 million Series B funding is led by HC Starck tungsten powders (“HCS”), a subsidiary of Masan High-Tech Materials, one of the world’s largest suppliers of tungsten, a key component of Nyobolt’s technology, along with IQ Capital, an existing deeptech investor. The investment is intended to drive Nyobolt’s entry into the market by establishing its presence and launching production of millions of units next year. The HC Starck funding will enable Nyobolt’s first materials manufacturing facility in the UK as well as expansion of the cellular engineering facility in the US and growth of teams around the world.

Co-founded in 2019 by Professor Clare Gray DBE, FRS And CEO Dr Sai Shivareddy, Nyobolt is commercializing high-performance batteries and charging technologies to create a world where long charging times no longer exist. The investment and future collaboration between Nyobolt and HC Starck in the supply of materials, increased production and recycling targets provide a sustainable solution to support the transition to net zero in multiple sectors.

The ultra-fast battery charging solution developed by world-renowned experts at Nyobolt dramatically reduces charging time from hours to minutes, maximizing uptime and productivity. Nyobolt’s technology will guide the world towards decarbonising transportation by erasing the biggest barrier that keeps drivers from switching to electricity: charge anxiety. The technology is applicable to devices ranging from home appliances to electric vehicles and industrial robotics, improving performance and revolutionizing energy storage markets.

In addition to ensuring the security of supply of key materials, this strategic partnership will allow Nyobolt to benefit from HC Starck’s established recycling capabilities, enabling the efficient use of resources to minimize the environmental impact of Nyobolt’s ultra-fast charging batteries. . The collaboration will lead to a sustainable supply chain for Nyobolt’s technology, making the technically demanding process of battery recycling easier and more efficient.

Nyobolt’s technology is based on a decade of battery research led by the University of Cambridge battery scientist Professor Clara Gray, which was recently named as Dame Commander of the Order of the British Empire on the Queen’s Platinum Jubilee Honors list for her services to science, marking her extensive contributions to the battery industry and her pivotal role in a more sustainable world.

Prof. Clare Gray, chief scientist and co-founder of Nyobolt said: “We are excited to move our technologies from development to market deployment. We founded Nyobolt following the discovery of new anodic technologies containing tungsten with a remarkable fast-charging capability to bring these properties to market in applications that touch all aspects of daily life. HC Starck’s funding will help Nyobolt expand our UK and US operations and bring a more sustainable solution to the energy storage industry. Nyobolt technology will not only allow for net zero both in the electrification of transport, but also in the storage of clean and renewable energy on and off the grid. With HC Starck’s investment, Nyobolt’s ultra-fast charging and high-power batteries will help pave the way for achieving clean energy goals set by governments around the world. ”

Dr Sai Shivareddy, CEO and co-founder of Nyobolt he said: “Fast charging remains a critical unmet need as the world is electrified with more sustainable forms of energy, a need our technology addresses. We are excited about the partnership with HC Starck and see it as a stepping stone to increase scalability and speed to market, revealing the true potential of Nyobolt technologies. The Series B funding will put Nyobolt in the driver’s 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 battery industry. accumulation of energy. With investments and technologies from HC Starck, Nyobolt will expand its manufacturing capabilities while minimizing its carbon footprint with an effective recycling and reuse program ”.

Dr Hady Seyeda, CEO of HC Starck Tungsten, said: “This investment marks a milestone in our strategy to move further downstream and closer to consumers by developing innovative new applications including our recently branded“ starck2charge ”range of battery materials. Nyobolt’s technology is a real breakthrough that we can help commercialize based on our extensive experience in transferring innovative solutions into large-scale manufacturing. This partnership will also accelerate the development towards a circular economy for batteries through increased recycling and new usage patterns. “

Commented Craig Bradshaw, CEO of Masan High-Tech Materials: “I am very proud that just two years after the acquisition and integration of the HC Starck Tungsten Powders business into MHT we were able to expand our breadth of business capabilities through the acquisition of a significant stake in Nyobolt. We look forward to working together with the Nyobolt team to advance their product offering and opportunities to collaborate in manufacturing and marketing their products, as well as offering a complete lifecycle for the advanced strategic materials required in Nyobolt batteries. “.

***END***

About Nyobolt

Nyobolt are state-of-the-art battery technologies that achieve record-breaking ultrafast charging and high power density. This addresses a critical need that other battery innovations cannot meet. Nyobolt’s solutions enable sustainable electrification strategies with smaller, lighter and longer-lasting battery-powered devices that target carbon neutrality goals.

Information on HC Starck Tungsten Powders

HC Starck Tungsten Powders, a wholly owned subsidiary of Masan High Tech Materials, is the world’s leading producer of high quality tungsten powder tailored to individual customer needs. The company combines a century of experience in tungsten processing with high innovative power and technological expertise. Decades of experience in recycling and accessing the world’s largest tungsten reserves outside of China, owned by the parent group of the Masan High-Tech Materials company, ensures a stable supply of conflict-free raw materials. HC Starck Tungsten Powders employs approximately 540 people at three manufacturing sites in Germany, Canada and China, as well as sales offices in the United States and Japan. The company’s headquarters are located at its largest production site, in Goslar, Germany.
www.hcstark.com
https://masanhightechmaterials.com

About IQ Capital

Capital IQ is the leading venture capital firm in the deep technology sector. Headquartered in London and Cambridge, IQ Capital invests in early stage deeptech businesses that use technologies that are difficult to replicate in huge global markets, in sectors including software, hardware, materials, healthcare technology and life sciences.

The more than 50 companies in IQ Capital’s portfolio are visionary and address some of the world’s biggest problems to dominate their respective markets on a global scale and grow rapidly to become industry leaders. Our initial investments in Seed and Series A range from £ 0.5 million to £ 10 million, with a follow-up investment capacity of up to £ 30 million through our Growth Fund.

The IQ Capital team has secured over 20 exits, from companies including M&A to Apple, Google, Facebook, Oracle and several IPOs. IQ Capital has led over 30 investments over the past three years in outstanding companies, including Thought Machine, Paragraf, causaLens, Privitar, FNA, Concirrus, Fluidic Analytics, CybSafe and Nyobolt.

Digiqole announcement

Nyobolt secures £ 50m investment in Series B led by HC Starck Tungsten Powders and IQ Capital – UK Technology Investment News

Source link Nyobolt secures £ 50m investment in Series B led by HC Starck Tungsten Powders and IQ Capital – UK Technology Investment News

Back to top button