Tuesday, July 16, 2024
HomeNewsBattery materials developer raises £29 million in investment capital

Battery materials developer raises £29 million in investment capital

Echion Technologies, developer of niobium-based, fast-charging battery materials, has raised £29 million in investment capital.

The round was led by battery and energy storage technology investor Volta Energy Technologies, with participation from existing investors CBMM, BGF, and Cambridge Enterprise Ventures.

The investment will enable Echion to implement its go-to-market strategy to see its niobium-based XNO anode material used in real world applications.

XNO has been devised and developed to enable lithium-ion batteries to safely charge in less than ten minutes, maintain high energy densities even at low temperatures, and deliver high power across a cycle life of more than 10,000 cycles.

Echion is Volta’s first investment into a European headquartered company.

Echion’s longstanding partnership with producer of niobium, CBMM, will see the opening of a 2,000 tonne per year XNO manufacturing facility this year.

This will provide Echion with the manufacturing capacity to satisfy demand for XNO across cell manufacturers and OEMs across a range of industries including marine.

“Echion and their XNO technology complements our growing portfolio of technologies that address significant market needs through innovations in the supply chains of battery and energy storage technology,” said Dr Jeff Chamberlain, CEO and founder of Volta Energy Technologies.

“We believe the power of XNO can uniquely improve performance, lower cost, and meet the demands of the growing, international markets.”

RELATED ARTICLES

Most Popular

error: Content is protected !!