News
Echion completes £10M Series A
August 26, 2021
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 & Ireland’s most active and dynamic investor of equity capital in growth economy companies, with the University of Cambridge, Origin Capital, Martlet 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.
The funds will also be used to strengthen customer support, commercial and R&D operations.
Rodrigo Amado, Head of Strategy and New Ventures at CBMM says: “This partnership is part of our global strategy to accelerate the time to market of our Battery Materials Business front and bring to market an innovative niobium applied technology that will truly transform the way the world moves. Together, CBMM and Echion will advance towards sustainable mobility by offering ultra-fast charging batteries that have greater stability and longer life. We are optimistic and believe that these new products will be available within the next year.”
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.”
Echion is keen to hear from other cell or battery material manufacturers who also wish to evaluate its products.
Visit their website – echiontech.com for more information.
