Echion
Assembly Line
Echion raises £29 million in Series B investment round
The world’s leading developer of niobium-based, fast-charging battery materials, Echion Technologies, has successfully completed its Series B funding round, raising £29 million in investment capital. The round was led by specialist battery and energy storage technology investor Volta Energy Technologies (Volta), with participation from existing investors CBMM, BGF, and Cambridge Enterprise Ventures.
The investment will enable Echion to execute its go-to-market strategy to see its innovative niobium-based XNO® anode material utilised in real world applications, at volume. Echion is Volta’s first investment into a European headquartered company and having Volta as the lead Series B investor highlights Echion as a rising British battery technology business within the crucial global energy storage industry.
Echion’s longstanding partnership with the world’s leading producer of niobium, CBMM, will see the opening of a 2,000 tonne per year XNO® manufacturing facility this year. This provides Echion with the manufacturing capacity to satisfy the large and growing demand for XNO® across its global customer base comprised of major cell manufacturers and original equipment manufacturers (OEMs).
Echion Technologies, Cambridge, UK, Is Pleased To Announce Completion Of £10M Series-A Funding Round
Echion Technologies is a leading developer of next generation materials for Lithium-Ion batteries. Its products deliver a unique combination of fast-charging capability, cost-effectiveness, and high energy density; vital for the world’s shift towards decarbonisation through pervasive electrification.
The Series-A funding round has been led by CBMM - the world’s leading supplier of niobium products and BGF - the UK & Ireland’s most active and dynamic investor of equity capital in growth economy companies, with the University of Cambridge, Origin Capital and other existing shareholders also taking part.
Echion’s materials have been successfully evaluated by major battery cell and battery materials manufacturers around the world, who are now moving forward to larger scale trials. This financing will allow Echion to scale-up to multi-tonne level material production, demonstrating high-yield, cost effective manufacturability as well as to supply the growing demand for material for pre-production trials.