In July 2022, UK-based battery startup Nyobolt secured £50 million (approximately $59 million) in Series B funding to accelerate the development of ultra-fast-charging electric vehicle (EV) batteries. (businessinsider.com) This investment was led by H.C. Starck Tungsten Powders, a subsidiary of Masan High-Tech Materials, a leading global tungsten supplier. The funding aims to establish Nyobolt's first materials manufacturing plant in the UK and expand its existing facility in the United States. (y94.com)
Nyobolt's innovative technology focuses on creating battery anodes using niobium and tungsten, materials known for their stability and strength. By incorporating these metals, Nyobolt's batteries can achieve a 90% charge in under five minutes, significantly reducing charging times compared to traditional lithium-ion batteries. (electrek.co) This rapid charging capability addresses a major concern for EV users, potentially eliminating range anxiety and making electric vehicles more convenient for everyday use.
The company is initially targeting high-performance racing EVs, with plans to extend its technology to mass-market vehicles in the near future. Nyobolt's batteries have demonstrated the ability to charge to 80% capacity in less than five minutes, showcasing their potential for widespread adoption. (proactiveinvestors.co.uk)
The partnership with H.C. Starck Tungsten Powders is expected to enhance Nyobolt's manufacturing capabilities and support its battery recycling program, contributing to a more sustainable energy storage solution. (electrek.co) As the demand for electric vehicles continues to grow, innovations like Nyobolt's rapid-charging batteries are poised to play a crucial role in the future of transportation.
