UK battery innovator Echion Technologies secures significant investment from US VC Volta Energy Technologies
British battery materials supplier, Echion Technologies (Echion) has secured significant investment from US-based investor Volta Energy Technologies (Volta) to further accelerate the scale-up and commercialisation of its advanced niobium-based battery anode materials. The investment will enable Echion to meet growing customer demand in North America, South Korea, China, and the wider Asia-Pacific region.
Echion’s niobium-based XNO® anode material delivers long cycle life, superfast charging capability and outstanding safety in lithium-ion batteries for use in heavy duty industrial and grid storage applications. Volta’s investment leverages Echion’s existing manufacturing partnership with the world’s largest niobium miner, CBMM, which will deliver a 2,000 tonne per year XNO® supply capacity by 2024.
Jean de La Verpilliere, Co-founder and CEO of Echion Technologies, said: “We are very pleased to see the traction that XNO® is gathering worldwide in the battery industry, and are confident that Volta’s backing and outstanding reputation in the battery industry will help further accelerate our commercial deployment. We are now on the cusp of reaching mainstream market at scale, and Volta’s investment is a great validation of the work accomplished to date.
“We are excited to have Volta and their world-class team joining us and supporting the vision we have for Echion. We look forward to benefiting from their technical, commercial, and corporate insights as we grow further. Together with our manufacturing partnership with CBMM, this investment will enable us to widen and accelerate the adoption of XNO® in our target markets, enabling our customers to produce safer, faster-charging, and longer-life batteries.”
In Echion’s niobium-based XNO® technology, Volta has identified a unique opportunity to fulfil the demand for electrification of heavy industry that cannot be suitably served by existing solutions. Volta recognised Echion’s valuable accomplishments in developing and industrialising its technology, and importantly, the significant commercial traction made to date.
“The Volta team is delighted to be an investor in Echion as it scales its differentiated XNO® technology,” said Dr Jeff Chamberlain, CEO and Founder of Volta Energy Technologies. “The technology Echion is bringing to the battery industry complements Volta’s growing investment portfolio of valuable technologies that solve challenging problems within sizable market segments. The industrial and off-highway transportation sector is a significant portion of the global energy transition, and Echion’s product uniquely unlocks performance in lithium-ion batteries that can meet the precise demands of these applications. Volta is excited to support the Echion team as it introduces its technology to new international markets.”
Echion is Volta’s first investment into a European headquartered company as the organisation extends and expands its investments within the larger European battery and energy technology ecosystem. Building on Dr. Chamberlain’s experience of the industry, having served on the board of the UK’s Faraday Institution, Volta has cultivated and maintained relationships within several key European research institutions as well as Tier 1 automotive and industrial OEMs.
Volta will leverage these relationships as well as its deep US network to support Echion to accelerate the commercialisation of its ultra-fast charging, long-cycle life XNO® anode material. From Volta, Chief Investment Officer, Zander Arkin, joins Echion’s Board of Directors effectively immediately, and Principal, James Frith joins as an observer.
A spinout from the University of Cambridge, Echion is at the forefront of the British battery industry. Echion’s XNO® is an internationally patented niobium-based anode material that delivers lithium-ion battery performance highly suited for industrial, commercial, and high-value applications that demand the highest up-time, lowest total cost of ownership, and maximum performance. XNO® enables lithium-ion batteries that can safely charge in less than ten minutes, maintain high energy densities even at low temperatures, and deliver high power across a cycle life of more than 10,000 cycles.
Find out more about Echion’s leading XNO® technology at: https://echiontech.com/.
For more information, please contact David Hartley firstname.lastname@example.org or 01223 421835.
About Echion Technologies LTD
Echion (Cambridge, UK) supplies its world-leading Niobium-based anode material, XNO®, to cell manufacturers looking to build lithium-ion batteries with market-leading safety, cycle-life, and fast-charging capabilities. XNO® enables batteries to fast charge safely in less than 10 minutes, with high energy density and a cycle life of more than 10,000 cycles.
XNO® materials are based on proprietary mixed Niobium oxide compositions and microparticle designs protected by 13 international patent families and are now being scaled-up to the multi-thousand tonne/year production scale. The differentiated technology helps cell manufacturers gain a technical and commercial advantage in high-value, fast-growing markets where end-users require the safety, low total cost of ownership, and unique performance mix offered by XNO®.
This includes industrial and commercial e-mobility markets: rail, marine, AGVs, mining trucks and other off-highway vehicles, opportunity-charging e-buses and other high-utilisation EV fleets. XNO® also provides a unique value proposition for the micro-battery market and specific applications for the ESS, motorsports, and medical, markets.
Volta Energy Technologies is a US based venture fund focused on identifying transformative technologies and businesses that will accelerate the energy transition, with a focus on energy storage and associated technologies. Volta identifies and works with entrepreneurs and companies to solve their most important technical challenges while providing its strategic investors the opportunity to invest in and acquire the most promising of these technology companies. Volta’s portfolio consists of 20 companies with technologies spanning from lithium-ion battery materials to non-rare earth magnets and hydrogen production.