Echion
Assembly Line
Echion raises a further £10 million to accelerate commercial growth
Echion has secured £10 million investment from Barclays Sustainable Impact Capital and existing investor BGF. This funding will enable Echion to accelerate the speed at which its network of partnered cell manufacturers is able to produce commercially available cells which utilise Echion’s innovative niobium-based XNO® anode material. It will also support Echion’s growth in key markets by providing additional resources to connect cell manufacturers with industrial original equipment manufacturers (OEMs). This will see XNO® utilised in more real-world applications, at volume, in the near future.
Echion’s XNO® niobium-based anode material enables lithium-ion (Li-ion) batteries to safely fast charge in less than ten minutes, maintain high energy densities even at extreme temperatures, and deliver high power across a cycle life of more than 10,000 cycles. XNO® has been specifically engineered to allow electrified heavy-duty industrial, commercial and mass-transport vehicles to operate with the highest productivity and lowest total cost of ownership.
XNO® is available at scale thanks to Echion’s manufacturing partnership with the world’s leading producer of niobium, CBMM. In November, Echion opened the world’s largest niobium-based anode production facility, capable of producing 2000 t/year of XNO®, equivalent to 1 GWh of Li-ion cells. This will enable Echion to meet the significant demand for XNO® across its global customer base of cell manufacturers and OEMs.
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, Johnson Matthey, Britishvolt and UCL to produce demonstrator cells in CASCADE, a Faraday Battery Challenge-funded project
Echion Technologies, Cambridge, UK (“Echion”), Johnson Matthey (“JM”), Britishvolt (“BV”) and University College London (“UCL”) are grant recipients in the latest round (Round 4) of the Faraday Battery Challenge.
Project CASCADE (Cathode and Anode Supply Chain for Advanced DEmonstrator) brings together these four organisations to develop a next-generation, ultra-high power and fast-charging battery materials system for automotive applications using the cathode and anode technology of JM and Echion, respectively. This follows the successful CORNEA Innovate UK project between Echion and JM, which established the commercial potential and roadmap for this technology system.
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.