Power-intensive industries — AI automation, heavy transport, and data centres — face pressure to reduce emissions while maintaining 24/7 operations. Currently, only 20% of solutions in these sectors are electrified. Data centre outages cost an average of $9,000 per minute. New AI data centers powered by GPUs are impacting the quality of life in surrounding communities, potentially causing billions in damages. This situation will likely worsen, with AI projected to drive global power demand up by 165% by 2030.
Nyobolt tackles these challenges with groundbreaking energy storage and fast-charging technologies that set a new industry benchmark. Their solution provides up to 20 times more power and enables charging within minutes, eliminating downtime for power-intensive applications while maintaining peak performance. It also uses fewer natural resources than conventional lithium batteries.
The British innovator has secured $30 million in funding, led by IQ Capital and Latitude (LocalGlobe’s sister fund), alongside strategic partners Scania Invest and Takasago Industry. With total funding now at $100 million, Nyobolt plans to accelerate its technology development, expand market reach, grow its workforce, and strengthen its leadership in ultra-fast power systems.
Transforming industries with unprecedented uptime using its unique fast charge technology
Founded in 2019 at Cambridge by Dr. Sai Shivareddy and Dr. Kent Griffith, Nyobolt set out to solve a major challenge in product electrification: slow battery charging times. CEO Dr. Shivareddy brings expertise in engineering and energy storage innovation. Dr. Kent Griffith serves as a co-founder.
Nyobolt emerged from the need to match the refueling speed of petrol vehicles as the world transitions to sustainable energy. Their research led to breakthrough anode technologies, particularly using tungsten, that enable ultrafast charging without the degradation typical of conventional lithium-ion batteries.
The company’s proprietary anode material combines niobium and tungsten oxides, allowing for highly rapid lithium-ion movement that delivers high power density and long cycle life. Their battery cells have proven durable through over 4,000 fast-charge cycles with minimal capacity loss. Their 35kWh EV battery prototype achieved a 10–80% charge in under five minutes using a 350kW DC fast charger.
Sai Shivareddy, Co-Founder and CEO of Nyobolt, said: “The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands. Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast-charge solutions when they need them the most. I’m delighted to have the confidence of our customers and investors as we further strengthen our mission to push the boundaries of ultra-high-power solutions.”
Nyobolt aims to commercialise ultrafast-charging battery technology that reduces charging times from hours to minutes. This advancement supports the transition to clean energy and net-zero goals while enabling high-efficiency applications across electric vehicles, robotics, heavy machinery, and consumer electronics. Their cutting-edge materials and cell designs overcome the traditional challenges of slow charging and limited cycle life.
The company has already deployed its technology in AI-powered warehouses and heavy-duty vehicles, achieving $9 million in revenue in 2024. With over $150 million in secured contracts, Nyobolt is developing high-density power systems to meet the tenfold power requirements of next-generation AI data centres.
Nyobolt’s fast-charge technology is revolutionising key industries by significantly improving uptime. Through innovative materials, unique battery cell designs, optimised software controls, and advanced power electronics, they create high-power energy systems offering ultrafast charging and exceptional endurance. This technology enables the electrification of products and services requiring high-power solutions and extended operation.
Behind Nyobolt: where research meets world-leading innovation
The breakthrough centers on Nyobolt’s proprietary anode material. Developed through pioneering cell chemistry research, their systems achieve higher power density and supercharging capabilities without degradation, overcoming key limitations of conventional technologies.
These power and performance improvements have led to successful deployments in AI-powered warehouses and heavy-duty vehicles. The company reached $9 million in revenue in 2024 and made history as the first to charge an electric car battery to 80% in under five minutes. Their batteries use up to 60% less lithium than conventional cells, and the company is developing recycling programs to recover and reuse critical materials, reducing environmental impact.
Nyobolt is set to triple its revenue, having secured over $150 million in contract value. To meet unprecedented AI data center power demands, they’re developing high-density power systems for the rapidly growing data center industry, which is projected to reach $500 billion within five years.
Max Bautin, Co-Founder and Managing Partner at IQ Capital, said: “Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business. In just a few short years they have become the go-to provider of high-power density solutions for AI warehouse operations and heavy-duty vehicles. Now with the advent of the AI revolution, they are in a prime position to become the backbone of critical AI infrastructure. We’re continuing to support Sai and the Nyobolt team as they take on this ambitious challenge not just as a company but the whole energy sector.”
Ash Arora, Partner at Latitude, said: “Charging an EV to 80% in under five minutes is headline-worthy. But Nyobolt isn’t chasing headlines — they’re building the backbone of the AI-powered future. Born out of Cambridge brilliance and scaled with world-class execution, this team is redefining what’s possible in energy globally. As power grids strain under AI’s explosive demand, Nyobolt is the only company turning deeptech into deep impact — fast.”
Jessica Persson, Head of Venture Capital and M&A at Scania, said: “At Scania, we invest in companies that support the shift towards a more sustainable transport system. That’s why we’re excited to announce our investment in Nyobolt, a pioneer in high-power, fast-charging solutions. Their breakthrough anode technology enables ultra-fast charging and longer-lasting batteries—critical advancements for the electrification of heavy-duty transport, industrial applications, and AI-powered infrastructure.”
