H.C. Starck invests over $50 million into Nyobolt

July 15, 2022 | 14:04
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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 approx. €52 million into Nyobolt Ltd.

Nyobolt is a fast-charging lithium-ion battery solutions company that leverages HCS’ advanced tungsten materials in its anode, for a 15 per cent equity interest on a fully diluted basis.

The investment, representing the majority of Nyobolt’s Series B financing round, is expected to accelerate HCS’ vision of becoming a high-tech, value-added business by developing new tungsten applications critical for the technologies of the future.

H.C. Starck invests over $50 million into Nyobolt
H.C. Starck signed an investment cooperation agreement with Nyobolt

Nyobolt is commercialising lithium-ion batteries with record power density and ultra-fast charge capabilities. The company’s technology builds on a decade of fast charge lithium-ion battery research led by University of Cambridge battery scientist Professor Dame Clare Grey.

Nyobolt’s unique niobium and tungsten-based anode systems show superior performances over other technologies. The advantages include a charging time to more than 90 per cent in just 5 minutes; higher input power density, allowing for smaller and lighter batteries; longer durability, resulting in lower total costs; and improved safety, coupled with wider temperature performance and reduced fire risk.

Such capabilities enable new applications and enhanced customer experience with targeted end-uses being high-performance and industrial vehicles, robotics, consumer appliances, cordless tools, stationary storage, and mobile rapid charging.

While proceeds from HCS’ investment will help fund Nyobolt’s construction of its anode manufacturing facilities and research and development (R&D) centres, both parties anticipate significant synergies through future collaborations, including:

  • Recycling: creating a circular economy for EV batteries leveraging HCS’ recycling capabilities, including its innovative and environmentally superior technology for black mass recycling
  • Tungsten supply: a reliable source of critical tungsten materials from HCS, the global western leader in the tungsten recycling industry
  • Cathode technology: HCS R&D specialists have a strong history in the development of cathode coatings
  • Manufacturing know-how and infrastructure: besides being one of the global leaders in tungsten powder production and tungsten scrap recycling, HCS has an in-house, industrial-scale laboratory that provides elemental analysis for battery materials and any kind of chemical and physical properties of inorganic powders
H.C. Starck invests over $50 million into Nyobolt
The processing plant of H.C. Starck in Goslar, Germany

“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. 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,” said Hady Seyeda, CEO of H.C. Starck Tungsten Powders.

Craig Bradshaw, CEO of MHT said, "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 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 and chief scientist professor Clare Grey added, “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."

Grey explained that the funding from H.C. Starck would help Nyobolt to scale up its 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 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,” Grey said.

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 revealing the true potential of Nyobolt technologies."

Shivareddy continued, "The Series B funding will put Nyobolt in the driving seat of the fast-moving battery industry and allow us to showcase the uniqueness of our battery technology, developed by our team of experts, which is set to transform the energy storage industry. With H.C. Starck's investment and technologies, Nyobolt will expand its manufacturing capabilities while minimising its carbon footprint with an effective recycle and reuse programme.”

By Mai Dang

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