A Cambridge University spinout has raised 拢7.5 million Series A funding to commercialise its battery tech.听
Nyobolt,听formerly CB2Tech and developed out of years of research at the university, claims to听deliver听high power and ultra-fast charging.听
The听round was听led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors听and听will enable听Nyobolt听to expand globally,听build听new facilities and growing听its听engineering and operational teams.听
Nyobolt听says these teams听work with customers to implement and integrate the unique technology into commercial applications to solve their battery challenges.听听
Led by world-renowned battery materials expert, Professor Clare Grey, and听Dr.听Sai听Shivareddy, the company is rapidly expanding its global technical and commercial presence, with teams in the UK, the US and Asia, with decades of experience at Tesla, Samsung, Dupont and Dyson.听
Nyobolt听has developed a proprietary process using niobium-based anode materials to create batteries that deliver record high power, ultrafast charge and high energy. The world-leading charge and discharge rate capability of听Nyobolt听batteries, extensively recorded in academic journals, presents a huge opportunity to supercharge the electric revolution.听听
The batteries also address other major challenges facing much existing technology, as they operate within a wide temperature range and are highly durable.听
CEO听Dr.听Shivareddy听said:听鈥淣yobolt听batteries remove the limitations presented by conventional lithium-ion batteries.听听
鈥�They are perfect for applications that require high power and ultra-fast charge. The recorded performance of our batteries represents a paradigm shift in battery听technology听and we are pleased to play our part in accelerating a greener, more efficient future, powered by world-class batteries.鈥�听
Max听Bautin,听managing听partner IQ Capital, stated: 鈥�Nyobolt听is a 鈥榥ew gen鈥櫶�deeptech听start-up founded by a highly experienced team with multiple prior successes; it is based on highly differentiated, patented and highly scalable technology.听听
鈥�We are very impressed by the team, products and commercial traction to-date and we are convinced that听Nyobolt听will have a revolutionary impact on Li-ion battery听applications, and听create new previously impossible uses in markets worth hundreds of billions of dollars a year.鈥�听
Cambridge Enterprise听investment听director听Dr.听Elaine听Loukes听said:听“When Clare and Sai first disclosed their discovery to Cambridge Enterprise nearly five years ago, we recognised that this would have the potential to be a paradigm shift in ultrafast battery charging.听听
鈥�The importance and significance of this technology to the post-carbon world cannot be overstated.听
鈥�We have worked with the founders from patent application through to seed funding and now A-round funding and we are extremely excited to be part of the ongoing journey of this incredible company.”听