Nyobolt Raises £50 Million In Series B

By Noah Long ● Jul 21, 2022
  • Nyobolt recently announced it raised £50 million in Series B funding. These are the details.

Nyobolt recently announced it raised £50 million in Series B funding. This funding round was led by H.C. Starck Tungsten Powders, which is a subsidiary of Masan High-Tech Materials. Masan High-Tech Materials is one of the world’s largest tungsten suppliers, a material that is a key component in Nyobolt batteries.

Nyobolt is known for pioneering end-to-end battery technologies with record-breaking ultrafast charging and high-power batteries. This funding round will help Nyobolt’s products to market and launch into manufacturing next year.

Nyobolt is aiming to produce millions of units.

KEY QUOTES:

“I am really proud that just over two years after acquiring and integrating the global Tungsten business of H.C. Starck into MHT we have been able to expand our breadth of business capabilities through the acquisition of a significant equity stake in Nyobolt. We look forward to working together with the Nyobolt team to advance their product offering and opportunities to partner in the manufacturing and commercialization of their products as well as offering a full life cycle for the advanced strategic materials required in the Nyobolt batteries.”

— Craig Bradshaw, Chief Executive Officer of MHT

“We are excited to move our technologies from development to deployment in the market. We founded Nyobolt following the discovery of new anode technologies containing tungsten with remarkable fast charging capability to bring these properties to the market in applications touching all aspects of daily life. The funding from H.C. Starck will help Nyobolt to scale up our operations in the UK and United States and bring a more sustainable solution into the energy storage industry. 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. 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.”

— Nyobolt Co-Founder & Chief Scientist Professor Dame Clare Grey

“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 revealing the true potential of Nyobolt technologies. 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, which set to transform the energy storage industry. With H.C. Starck investment and technologies, Nyobolt will expand its manufacturing capabilities while minimizing its carbon footprint with an effective recycle and reuse program.”

— Sai Shivareddy, CEO and Co-founder of Nyobolt