Photo: Nyobolt

University of Cambridge spin-out Nyobolt, a pioneer of end-to-end fast-charging battery systems, has raised a further £50 million of funding which will enable the company to manufacture its products at scale.

The funding round was led by H.C Starck Tungsten Powders, a subsidiary of Masan High-Tech Materials, one of the world’s largest tungsten suppliers – a key component of Nyobolt’s technology. Nyobolt’s existing investor, IQ Capital, is also participating in the round.

The investment is set to drive Nyobolt’s market entry by establishing its presence and launching the manufacturing of millions of units next year. H.C. Starck funding will enable Nyobolt’s first materials manufacturing plant in the UK, as well as expansion of the company’s cell engineering facility in the USA and the company’s growth around the world.

Nyobolt, which spun out of the Yusuf Hamied Department of Chemistry in 2016, was co-founded by Professor Dame Clare Grey and CEO Dr Sai Shivareddy. The company’s mission is commercialising high-performance battery and charging technologies to create a world where lengthy charge times are a thing of the past.

The investment and future collaboration between Nyobolt and H.C. Starck in the supply of materials, scale up of manufacture and recycling aims to provide a sustainable solution supporting the transition to ‘net zero’ in multiple sectors.

The ultra-fast charging battery solution developed by scientists at Nyobolt drastically decreases charge time from hours to minutes, maximising uptime and productivity. Nyobolt’s technology will lead the world towards transport decarbonisation, by erasing the greatest barrier preventing drivers from going electric – charge anxiety. The technology is applicable for devices ranging from home appliances to EVs and industrial robotics, improving performance and revolutionising energy storage markets.

As well as ensuring security of supply of key materials, this strategic partnership will enable Nyobolt to benefit from the established recycling capabilities of H.C. Starck, allowing the efficient use of resources to minimise 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 builds on a decade of battery research led by University of Cambridge battery scientist Professor Grey, who has been recently appointed as Dame Commander of the Order of the British Empire in the Queen’s Platinum Jubilee Honours list for her services to science, marking her extensive contributions to the battery industry and its pivotal role for a more sustainable world.