Nyobolt, the pioneer of end-to-end fast-charging battery systems, announces £50 million funding which will enable the company to enter a stage of manufacturing at scale.
Nyobolt, which spun out of the Yusuf Hamied Department of Chemistry in 2016 and was co-founded by Professor Dame Clare Grey DBE FRS and CEO Dr Sai Shivareddy, is commercialising high-performance battery and charging technologies to create a world where lengthy charge times no longer exist.
The £50 million funding is led by H.C. Starck Tungsten Powders (HCS), a subsidiary of Masan High-Tech Materials, one of the world’s largest tungsten suppliers – a key component of Nyobolt’s technology. The investment is set to drive Nyobolt’s market entry by establishing its presence and launching the manufacturing of millions of units next year. H.C. Starck funding will enable Nyobolt’s first materials manufacturing plant in the UK, as well as expansion of the US cell engineering facility and the teams’ growth across the globe.
The ultra-fast charging battery solution developed by world renowned experts at Nyobolt drastically decreases charge time from hours to minutes, maximising uptime and productivity. Nyobolt’s technology will lead the world towards transport decarbonisation, by erasing the greatest barrier preventing drivers from going electric – charge anxiety. The technology is applicable for devices ranging from home appliances to electric vehicles and industrial robotics, improving performance and revolutionising energy storage markets.
Nyobolt technology will not only enable net zero both in the electrification of transport, but also the storing of clean and renewable energy on and off the grid. Professor Clare Grey, Chief Scientist and Co-founder of Nyobolt, and Yusuf Hamied Department of Chemistry