UK-based battery technology firm Nyobolt has raised $30 million in a funding round aimed at scaling its ultra-fast charging solutions across industrial and automotive sectors. The investment, led by IQ Capital and Latitude, with participation from Scania Invest—the venture arm of Volkswagen’s truck division—brings Nyobolt’s total funding to $100 million.
Established in Cambridge, England, Nyobolt has specialized in energy storage systems for high-demand applications, notably autonomous warehouse robots that operate continuously and require rapid charging capabilities. CEO Sai Shivareddy highlighted the company’s focus on this niche due to minimal competition and the critical need for efficient energy solutions in such environments.
Nyobolt’s technology, utilizing graphite anodes, has demonstrated the ability to charge an electric vehicle from 10% to 80% in under five minutes during track tests. The company is in discussions with eight major automakers to integrate its fast-charging systems into mainstream EV platforms, aiming for widespread adoption within the next three to five years.
Rather than manufacturing batteries at scale, Nyobolt plans to license its technology to established battery producers, facilitating broader implementation without the overhead of large-scale production. This approach positions Nyobolt to rapidly influence the EV market, especially as global demand for efficient charging solutions intensifies.
The funding and strategic partnerships underscore Nyobolt’s commitment to advancing fast-charging technology, addressing critical challenges in energy storage and electric mobility. As the industry moves towards more sustainable and efficient solutions, Nyobolt’s innovations could play a pivotal role in shaping the future of transportation and logistics.
