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Nyobolt, which spun out of the Yusuf Hamied Department of Chemistry in 2019, was co-founded by Professor Dame Clare Grey and Dr Sai Shivareddy, the company’s CEO. From the start, Nyobolt’s goal has been high-performance battery and charging technologies to create a world where lengthy charge times no longer exist.
Nyobolt has unlocked the potential of battery performance with a unique technology that is manufacturable and scalable right now.
Professor Dame Clare Grey
Dr Sai Shivareddy
£50 million Series B funding round
In July 2022 the portfolio company took a huge step in its mission to lead the future of sustainable energy storage with a £50 million Series B funding round. The round enabled the company to move into its next phase, scaling its operations.
The July funding round was led by H.C. Starck Tungsten Powders, a subsidiary of Masan High-Tech Materials and one of the world’s largest suppliers of tungsten, a key component of Nyobolt’s technology. In addition to funding, the deal includes collaboration on the supply of materials, scale up of manufacturing and recycling.
The goal is to provide a sustainable solution supporting the transition to net zero in multiple sectors. Nyobolt benefits from the established recycling capabilities of H.C. Starck, allowing the efficient use of resources to minimise the environmental impact of Nyobolt’s batteries. In 2023, Nyobolt will launch its first materials manufacturing plant in the UK and also expand its cell engineering facility in the USA, cell making activities in Asia and the teams growth across the globe.
Nyobolt & CALLUM partnership
Partnership with CALLUM
Nyobolt announced a partnership with design and engineering business CALLUM in May 2023 that sees the companies collaborating on projects that incorporate Nyobolt’s patented technology, including an automotive concept for passenger vehicles. Nyobolt’s ultra-fast charging battery solutions drastically decrease charge time from hours to minutes, maximising uptime and productivity. The technology will lead the world towards transport decarbonisation through the use of smaller, longer-lasting, fast-charge batteries. Nyobolt’s batteries can make recharging a car as convenient as filling it with petrol – which will remove a significant barrier to electric vehicle adoption. Moreover, smaller batteries can produce lightweight, charge-efficient cars that require less electricity to run them, and can also reduce the precious battery materials and carbon footprint required to make them. The technology is also applicable to devices ranging from home appliances to heavy vehicles, improving performance and revolutionising energy storage markets.
Professor Dame Clare Grey
Nyobolt’s technology builds on a decade of battery research led by University of Cambridge battery scientist Professor Grey, who was appointed as Dame Commander of the Order of the British Empire in The Queen’s Platinum Jubilee Honours list for her services to science, marking her extensive contributions to the battery industry and its pivotal role for a more sustainable world.
All images courtesy of Nyobolt
Annual Review 2022
This impact story was first published in the Cambridge Enterprise Annual Review 2022.
View our Annual Review 2022 to learn more about some of the exciting breakthroughs and innovations that we have been part of during 2021-2022.