Battery technology specialist Nyobolt has secured USD10 million in a Series A funding led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors.

The funding will enable Nyobolt to expand globally, building new facilities, and growing the engineering and operational teams, which work with customers to implement and integrate the unique technology into commercial applications to solve their battery challenges.

Nyobolt (formerly CB2Tech) developed out of years of research at the University of Cambridge led by world-renowned battery materials expert, Professor Clare Grey, and Dr Sai Shivareddy. The company is rapidly expanding its global technical and commercial presence, with teams in the UK, the US and Asia, with decades of experience at Tesla, Samsung, Dupont and Dyson.

Nyobolt has developed a proprietary process using niobium-based anode materials to create batteries that deliver record high power, ultrafast charge and high energy. The world-leading charge and discharge rate capability of Nyobolt batteries, extensively recorded in academic journals, presents a huge opportunity to supercharge the electric revolution. The batteries also address other major challenges facing much existing technology, as they operate within a wide temperature range and are highly durable.

Read more/Source: Private Equity Wire