Nyobolt, a Cambridge-based battery technology company, has announced the initial close of £50M funding in its Series B round led by H.C. Starck Tungsten Powders, a subsidiary of Masan High-Tech Materials, alongside existing deeptech investor IQ Capital.
The funding will help Nyobolt to scale the battery manufacturing for industries, including automotive and home appliances.
Prof. Clare Grey, chief scientist and co-founder of Nyobolt says, “We are excited to move our technologies from development to deployment in the market. We founded Nyobolt following the discovery of new anode technologies containing tungsten with remarkable fast charging capability to bring these properties to the market in applications touching all aspects of daily life.”
He adds, “The funding from H.C. Starck will help Nyobolt to scale up our operations in the UK and United States and bring a more sustainable solution into the energy storage industry. Nyobolt technology will not only enable net zero both in the electrification of transport, but also in the storing of clean and renewable energy on and off the grid. With the investment from H.C. Starck, Nyobolt’s ultra-fast charging, high power batteries will help lead the way towards achieving the clean energy goals set by governments around the world.”
High-power battery tech
Co-founded by Professor Clare Grey and Dr. Sai Shivareddy, Nyobolt is a developer of high-power battery technology used to serve automotive applications. Reportedly, the company is said to be working on a technology that will allow batteries to be charged to 90% capacity in less than five minutes, while improving power and durability tenfold.
Further, the collaboration between Nyobolt and H.C. Starck in the supply of materials, scale-up of manufacture, and recycling aim to bring fast-charging, sustainable energy storage solutions to global markets.
The ultra-fast charging battery solution drastically decreases charge time from hours to minutes, maximising uptime and productivity. The technology can be used in devices ranging from home appliances to electric vehicles and industrial robotics, improving performance and revolutionising energy storage markets.
Nyobolt’s technology builds on a decade of battery research led by University of Cambridge battery scientist Professor Clare Grey, who has been recently appointed as Dame Commander of the Order of the British Empire in the Queen’s Platinum Jubilee Honours list.
Dr. Sai Shivareddy, CEO and Co-founder of Nyobolt says, “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.”
He adds, “The Series B funding will put Nyobolt in the driving seat of the 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 investment and technologies, Nyobolt will expand its manufacturing capabilities while minimising its carbon footprint with an effective recycle and reuse program.”
Dr. Hady Seyeda, CEO of H.C. Starck Tungsten says, “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 commercialise based on our vast experience in transferring innovative solutions into large-scale manufacturing. This partnership is also going to accelerate the development towards a circular economy for batteries via enhanced recycling and new models of use.”