Seed15 July 2022

Nyobolt secures £50m Series B funding from H.C. Starck Tungsten Powders and IQ Capital to scale manufacturing.

The Series B round was co-led by H.C. Starck Tungsten Powders and IQ Capital, valuing the business at £300m.

£50.0MSeed

Nyobolt develops ultra-fast charging energy technology and proprietary power performance solutions for autonomous machines and high-demand industrial applications. The company combines advanced battery cell design with integrated power electronics to deliver high power density and extended lifecycle performance.

Nyobolt has secured £50m in a Series B funding round co-led by H.C. Starck Tungsten Powders and IQ Capital, valuing the business at £300m. The capital will be directed towards scaling manufacturing operations, including establishing the company's first materials plant in the UK and expanding its US cell engineering facility.

The investment aims to accelerate the commercial deployment of Nyobolt's ultra-fast charging battery technology, which significantly reduces charge times for applications ranging from home appliances to electric vehicles. In addition to production scale-up, the partnership with H.C. Starck will secure a sustainable supply chain and integrate established battery recycling capabilities to minimise environmental impact.

From the founder

"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. The funding from H.C. Starck will help Nyobolt to scale up our 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 both 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."

Clare Grey

Chief Scientist and Co-founder at Nyobolt

Investor perspective

"I am really proud that just over two years after acquiring and integrating the H.C. Starck Tungsten Powders business 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."

Craig Bradshaw

CEO, H.C. Starck Tungsten Powders