University spin-out Echion Technologies raises £10m in Series A investment round

Funding will accelerate development of next-generation lithium-ion battery technology.

Echion Founders: Dr Alex Groombridge, CTO (left) and Jean de La Verpilliere, CEO (right) Image credit: Echion Technologies

A spin-out from the University of Cambridge Department of Engineering, 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 and 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.

This funding round increases BGF’s investment in companies engaged in carbon reduction and the energy transition to £230m, and comes shortly after the announcement of a Clean Growth Advisory Board to be chaired by Baroness Brown of Cambridge.

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.

Echion CEO Jean de La Verpilliere said: "We are tremendously excited to start the next stage in our journey to bring the Echion Mixed Niobium Oxide products to market. We have great synergies within our investor base, and will keep building a world-leading team to deliver exceptional performance to our customers. We look forward to creating value for our partners and contributing to making superfast charging batteries a reality."

Chris Gibbs, Investment Manager at Cambridge Enterprise said: "Having supported Echion right from the start of its journey to commercialise its novel lithium-ion battery technology, Cambridge Enterprise is delighted to see it complete this significant funding round. Echion is now in a very strong position to deliver on the team's robust commercial traction and make a significant impact in the industry."

The funds will also be used to strengthen customer support, commercial and R&D operations.

Echion is keen to hear from other cell or battery material manufacturers who also wish to evaluate its products.

Image: Echion Founders: Dr Alex Groombridge, CTO (left) and Jean de La Verpilliere, CEO (right) Image credit: Echion Technologies

About Echion Technologies:

Echion is a world-leading developer of advanced lithium-ion battery materials, whose products enable cell manufacturers to deliver cost-effective, fast-charging, high-energy density and long-life power cells for a wide range of markets including automotive, transportation, premium consumer electronics, and grid-storage applications.

Echion provides materials and battery cell manufacturers with packages of protected intellectual property, customisation options, materials synthesis and cell integration know-how and for different end-user markets.

See: www.echiontech.com



Looking for something specific?