|H.C. Starck Tungsten Powders signs agreements to invest 45 million British pounds (US$53.2 million) in Nyobolt Limited. — Photo courtesy of Masan|
GERMANY — H.C. Starck Tungsten Powders (HCS), a wholly owned subsidiary of Masan High-Tech Materials (MHT), on July 15 announced the signing of agreements to invest 45 million British pounds (US$53.2 million) for a 15 per cent in Nyobolt Limited, a fast-charging Li-ion battery solutions company that uses HCS’s advanced tungsten materials in its anode.
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 commercialising lithium-ion batteries with high power density and fast charge capabilities.
This will enable new applications and enhanced customer experience with the target end-users being high-performance and industrial vehicles, automation (robotics), consumer appliances, cordless tools, stationary storage, and mobile rapid charging.
While the proceeds from HCS’ investment will help fund Nyobolt’s construction of anode manufacturing facilities and R&D centres, both parties anticipate significant synergies through future collaborations, including recycling, tungsten supply, cathode technology, and manufacturing know-how and infrastructure.
“This investment marks a milestone in our strategy to move further downstream, and get closer to consumers by developing new, innovative applications including our recently trademarked starck2charge battery materials product range,” Hady Seyeda, CEO of H.C. Starck Tungsten Powders, said.
“Nyobolt’s technology is a real breakthrough that we can help commercialise based on our vast experience in transferring innovative solutions into large-scale manufacturing.
“This partnership is also going to accelerate the development towards a circular economy for batteries via enhanced recycling and new models of use.”
Craig Bradshaw, CEO of MHT, said: "We look forward to working together with the Nyobolt team to advance their product offering and opportunities to partner in the manufacturing and commercialisation of their products as well as offering a full life cycle for the advanced strategic materials required in the Nyobolt batteries.”
Nyobolt co-founder & chief scientist, Prof Clare Grey, said: “The funding from H.C. Starck will help Nyobolt scale up our operations in the UK and US and bring a more sustainable solution to the energy storage industry.
“Nyobolt technology will not only enable net zero in the electrification of transport but also the storing of clean and renewable energy on and off the grid.
“With the investment from H.C. Starck, Nyobolt’s ultra-fast charging, high-power batteries will help lead the way towards achieving the clean energy goals set by governments around the world.”
|With the investment from H.C. Starck, Nyobolt’s ultra-fast charging, high-power batteries will help lead the way towards achieving the clean energy goals set by governments around the world. — Photo courtesy of Masan|
Sai Shivareddy, CEO and co-founder of Nyobolt, said: “Fast charging remains a critical unmet need as the world electrifies with more sustainable forms of energy – a need our technology addresses. We are excited about the partnership with H.C. Starck and see it as a stepping stone to increase scale and speed to market.
“The series B funding will put Nyobolt in the driving seat of a fast-moving battery industry and allow us to showcase the uniqueness of our battery technology, developed by our team of experts.” — VNS