Echion Tecnologies, a Sawston, UK-based developer of niobium-based, fast-charging battery materials, raised £29M in Series B funding.
The round was led by Volta Energy Technologies with participation from CBMM, BGF and Cambridge Enterprise Ventures.
The company intends to use the funds to execute its go-to-market strategy to see its niobium-based XNO® anode material utilized in real world applications, at volume.
Led by Jean de La Verpilliere, CEO, Echion Tecnologies is a developer of niobium-based, fast-charging battery materials. The company has devised, tested, and patented a niobium-based anode material, XNO®, which delivers lithium-ion battery performance highly suited for industrial, commercial, and high-value applications that demand the highest up-time, lowest total cost of ownership, and highest safety. XNO® enables lithium-ion batteries that can 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.
The company’s longstanding partnership with niobium producer CBMM will see the opening of a 2,000 tonne per year XNO® manufacturing facility this year. This provides Echion with the manufacturing capacity to satisfy the demand for XNO® across its global customer base comprised of major cell manufacturers and original equipment manufacturers (OEMs).
FinSMEs
14/06/2024