Nyobolt, an EPSRC-supported Cambridge University spin-out, has secured over £7 million in Series A round funding, to target the billion-dollar electric car market.
Co-founded by Professor Grey, who was supported through an Engineering and Physical Sciences Research Council programme grant, Nyobolt has developed a proprietary process using niobium-based anode materials to create batteries that deliver:
- record high power
- ultrafast charge
- high energy.
These batteries are also durable and can be operated within a wide temperature range, which is impossible for many existing battery solutions.
Professor Grey said:
Grid-scale batteries technically work, but there is a question of whether they are commercially viable. Ultimately, we have so much more to do in the field of batteries, if we can tackle fast charging that is tackling one small part of it.
Sales of electric cars topped 2.1 million globally in 2019. Therefore, with the world-leading charge and discharge rate capability of Nyobolt batteries, extensively recorded in academic journals, presents a huge opportunity to supercharge the electric revolution.
Nyobolt will use the new funding to expand its operations globally and expand their materials development facility in Cambridge. The first commercial pilots are expected to begin within a year.
Last updated: 17 November 2022