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Nyobolt is the Only Known Tungsten Intensive Battery Business Nearing Commercialization
GOSLAR, Germany, July 15, 2022 /PRNewswire/ — HC Starck Tungsten Powders (“HCS”), a wholly owned subsidiary of Masan High-Tech Materials (“MHT”), today announced the signing of definitive agreements to invest £45m (approx. €52m) into Nyobolt Limited (“Nyobolt”), a fast-charging Li-ion battery solutions company that leverages HCS’s advanced tungsten materials in its anode, for a 15% equity interest on a fully diluted basis. The investment, representing the majority of Nyobolt’s Series B financing round, is expected to accelerate HCS’s vision of becoming a high-tech, value-added business by developing new tungsten applications critical for the technologies of the future.
Nyobolt is commercializing lithium-ion batteries with record power density and ultra-fast charge capabilities. The company’s technology builds on a decade of fast lithium charge-ion battery research led by University of Cambridge battery scientist Professor Dame Clare Grey. Nyobolt’s unique niobium and tungsten-based anode systems show superior performance over other Li-ion anode technologies. Advantages include:
– Charging time: >90% charged in <5 minutes
– Higher input power density: 10x power addresses range anxiety and allows for more smaller and lighter batteries
– Longer durability: 10x durability resulting in lower total cost of ownership for battery lifetime
– Improved safety: wider temperature performance and reduced fire risk
Such capabilities enable new applications and enhanced customer experience with target end uses being high performance and industrial vehicles, automation (robotics), consumer appliances, cordless tools, stationary storage and mobile rapid charging.
While proceeds from HCS’ investment will help fund Nyobolt’s construction of its anode manufacturing facilities and R&D centers, both parties anticipate significant synergies through future collaborations, including:
– Recycling: creating a circular economy for EV batteries leveraging HCS’ recycling capabilities, including its innovative …
Full story available on Benzinga.com
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