Led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors, the funding will be used to expand the company globally, build new facilities, and grow the engineering and operational teams.
Nyobolt (formerly CB2Tech) developed out of research at the University of Cambridge led by battery materials expert, Professor Clare Grey, and Dr. Sai 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.
The company has developed a proprietary process using niobium-based anode materials to create batteries that deliver record high power, ultrafast charge and high energy. The charge and discharge rate capability of Nyobolt batteries, extensively recorded in academic journals, presents a huge opportunity to supercharge the electric revolution. The batteries also address other major challenges facing much existing technology, as they operate within a wide temperature range and are highly durable.
Speaking about the fundraising, Dr. Shivareddy, Nyobolt CEO commented that, “Nyobolt batteries remove the limitations presented by conventional lithium-ion batteries. 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 technology and we are pleased to play our part in accelerating a greener, more efficient future, powered by world-class batteries.”
Cambridge Enterprise Investment Director Dr. Elaine Loukes said, "The importance and significance of this technology to the post-carbon world cannot be overstated. 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."
