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Funding to accelerate development of its 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 Department of Engineering, Echion Technologies (‘Echion’) 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.
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.
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