The startup specialized in the development of fast charging batteries for electric vehicles, has confirmed the recent raising of 59 million dollars in Series B funds to finance its new manufacturing plant that will be based in the United Kingdom. It is expected to start production work on its own battery cells from next year 2023.
This new company in the electricity sector does not yet have its own factory, although its advances are many with respect to the development of fast-charging batteries, as well as other approaches, such as the recycling of battery materials. The financing round held in recent days was directed by HC Starck Tungsten Powders, the department belonging to the firm Masan High-Tech Materials and which is responsible for providing tungsten to companies around the world. This mentioned department will help Nyobolt through a strategic association to expand the manufacture of batteries and to implement its recycling program for them.
One of the most outstanding sections that Nyobolt has been developing in recent years has been research to the implementation of battery anodes through the use of niobium and tungsten. This, according to new studies published by the company, could make an electric vehicle equipped with this battery technology fully charged after just a few minutes of plugging in. These materials, given their chemical stability, are frequently used to strengthen steel or, in parallel, create alloys with it.
As confirmed by a company representative in a recent statement, today most electric vehicle manufacturing companies are focusing their capabilities around larger, heavier and more expensive batteries that are capable of claiming huge electric range figures on a single charge. . From Nyobolt they point out that, in reality, this is not the future of the electric automotive industry, but rather it will go for smaller, longer-lasting, cheaper batteries with ultra-fast charging capacity.
Companies like CATL are working on new batteries with these attributes, in addition to those known as “solid electrolyte” batteries that will also come close to these technical capabilities. According to Nyobolt, “the recipe will be to get a full recharge in just a few minutes of recharging.” The new batteries that the British company is investigating are expected to become a reality during the second half of the current decade.
Currently, Nyobolt has opened a new department dedicated to the development of batteries for high-performance electric vehicles, specially designed for racing models or focused on high competition. They hope that they will become a reality in the coming years and that, later, they can reach the electric vehicle market during the last years of this decade or at the beginning of the next.
With this new investment of economic capital made on the company, Nyobolt will be able to finance the construction of its new factory, possibly near Cambridge, where they have their official headquarters, as well as continue with the development of their future projects of new battery technologies.