Nyobolt technology reaches Financial Times ‘Tech Champions 2022’ finals

November 21, 2022 | 19:00

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This year's ‘Tech Champions’ features energy as a focus, with Nyobolt, a startup funded by Masan High-Tech Materials, outperforming numerous applicants to advance to the final round.

Nyobolt has been recognised as a pioneer in developing ultrafast-charging tungsten-based battery technology at the Financial Times ‘Tech Champions 2022’ finals.

Nyobolt technology reaches Financial Times ‘Tech Champions 2022’ finals

“Revolutionising the performance of Lithium-ion batteries, Nybolt is transforming the use of battery in EVs, medical devices, and robotics,” said the Financial Times judging panel when shortlisting Nyobolt as a finalist together with four other companies in the Energy sector.

The FT judging panel review and select the winners in multiple categories, including Banking and Payments, Markets and Financial Services, Shipping and Transport, Manufacturing, Professional Services, Retail, Energy, IT and Cybersecurity, Media, and Healthcare. In 2022 out of nearly 300 submissions, 10 winners will be announced later today.

Nyobolt was selected as a finalist because of the cutting-edge use of tungsten in Lithium-ion batteries, which allows for faster charging and extended battery life.

This is a significant stepping stone for Nyobolt after receiving an investment of around $53 million in July 2022 from H.C. Starck Tungsten Powders (HCS), a subsidiary of Masan High-Tech Materials.

The funding from H.C. Starck has helped Nyobolt scale up its operations in the UK and US to focus on developing next-generation tungsten batteries.

Nyobolt’s technology employs H.C. Starck’s advanced Tungsten materials in the battery anode coating to produce batteries of superior quality.

The funding from H.C. Starck has helped Nyobolt scale up its operations in the UK and US to focus on developing next-generation tungsten batteries.

With record-high power density and ultrafast charging speed, this new-generation battery would compensate for the shortcomings of conventional batteries, such as hypersensitivity, thermal stress and exorbitant costs.

Nyobolt tests have shown that Tungsten-based Lithium-ion batteries are 10 times more efficient than conventional batteries of the same size, with 90 per cent charged in less than five minutes.

With up to 10 times higher power density, the battery has longer durability and saves the cost of battery usage. Particularly, this battery technology helps reduce fire and explosion risks, thus increasing end-user safety.

Nyobolt’s use of HCS advanced tungsten materials in Li-ion batteries is a breakthrough technology predicted to transform the battery industry in the near future.

When commercialising this new battery product range, Nyobolt and HCS have demonstrated their foresight in developing a clean energy ecosystem.

Danny Le, chairman of Masan High-Tech Materials, said that the company aims to move further downstream and become a global consumer-tech business, addressing the unmet needs of key industries worldwide.

Investing in Nyobolt demonstrates Masan's commitment to developing efficient and safe products that serve direct consumer needs.

Besides funding for Nyobolt to soon commercialise tungsten-based batteries in 2022 Masan High-Tech Materials continues to focus on recycling raw materials, implementing carbon-neutral initiatives, and promoting circular economy development.

“Our ultimate goal is to achieve long-term sustainability. To that end, we are working to accelerate the development of a circular economy for batteries via enhanced recycling and innovative models,” said Le.

He added that Masan High-Tech Materials and its subsidiary HCS are now putting all efforts into research and development of the Tungsten Scrap Recycling Plant with the ambition to turn Vietnam into the region's leading technology centre for recycling tungsten and precious metals, thereby reducing reliance on primary raw materials from mining activities.

“By 2027, Masan is set to become the world's leading supplier of high-tech materials, as well as an innovation leader in global consumer technology products, with high-efficient rechargeable Li-ion battery being the first-to-market,” said Le.

The Financial Times ‘Tech Champions’ initiated in 2021 and nominated by FT readers, helps spot European companies finding scientific solutions to today’s business challenges. In 2022 out of nearly 300 submissions, FT journalists reviewed them, researched the nominated companies, and helped draw up shortlists in 10 categories. Companies nominated for this year's awards are those using technology to tackle energy shortages, economic sanctions, and broken supply chains as a result of the political turmoil in Eastern Europe and the aftermath of the pandemic.

The Financial Times ‘Tech Champions’ initiated in 2021 and nominated by FT readers, helps spot European companies finding scientific solutions to today’s business challenges.

In 2022 out of nearly 300 submissions, FT journalists reviewed them, researched the nominated companies, and helped draw up shortlists in 10 categories. Companies nominated for this year's awards are those using technology to tackle energy shortages, economic sanctions, and broken supply chains as a result of the political turmoil in Eastern Europe and the aftermath of the pandemic.