Belgium-based SOLiTHOR, a pioneer in designs and develops intrinsically safe, high-energy solid-state lithium batteries, has secured €10 million in seed funding. The financing round was led by imec.xpand alongside participation from a strong investment syndicate, including LRM, Nuhma and FPIM.
Address challenges in EV industry
The proceeds of the round will be used by SOLiTHOR for the development of the technology required to enable further electrification of the transport industry with solutions that address current issues in autonomy, performance, longevity and safety.
Huw Hampson-Jones, Founder and CEO of SOLiTHOR, said, “This revolutionary technology will improve energy density, charging speeds and crucially, increase safety and will be far easier to manufacture than other solid-state batteries. The Research and Development programme will be led by Founder and Chief Technology Officer, Dr Fanny Bardé, a seasoned expert in battery technology, together with imec’s R&D teams.”
“We are delighted to see SOLiTHOR bringing some of our most promising technologies to the market. We believe SOLiTHOR is on a path to unleash the great potential of this technology for the society: contribute to the reduction of our carbon footprint through further electrification of our transport and contribute to Europe’s strategic positioning and independence in the energy sector. SOLiTHOR will impact our local economy thanks to the expected establishment of manufacturing activities to serve its customers globally.” says Olivier Rousseaux, Director Venture Development at imec.
Tom Vanham, CEO LRM added, “LRM is a safe haven for promising start-ups and supports innovative ecosystems. Innovative battery technology is of strategic importance for the automotive sector and for Europe. LRM strongly believes in SOLiTHOR solid state lithium battery cell, which is a potential game changer that will accelerate the electrification of the transport industry. LRM is convinced that this investment paves the way towards a more sustainable mobility.”
Develops safe solid-state lithium batteries
SOLiTHOR is a newly created spin-off company from imec – partner in the top European energy R&D innovation hub EnergyVille. It was founded by Huw Hampson-Jones and Fanny Bardé and it spearheads the development, manufacturing and commercialisation of innovative solid-state lithium (Li) battery cell technology to reliably and economically offer high energy storage solutions.
The company works with the ambition to become a global leader in solid-state battery technology. It intends to become a key provider in the European battery value chain and aims to strongly contribute to European exports by supplying worldwide markets and the decarbonisation of society.
Solid-state batteries intend to bring the performance of classical battery systems to the next level in terms of energy density, charging speed, weight and volume. Notably, Imec has invested for 10 years in new technology to further boost the performance of solid-state batteries, whilst proposing components enabling an assembly process that is more compatible with classical Li-ion batteries assembly lines.
SOLiTHOR’s technology is unique and is based on breakthrough chemistry and components – the nano-Solid Composite Electrolyte and the nano-anode, spearheaded within the EnergyVille labs and patented by imec.