British startup Nyobolt has announced it has secured £50 million Series B funding to build a battery cell production facility in the UK by 2023.
Nyobolt gets funding led by H.C. Starck Tungsten Powders is widely recognized as one of the largest tungsten suppliers in the world.
H.C. Starck will help Nyobolt increase production capacity and its electric vehicle battery recycling program.
Nyobolt himself developed a battery anode with niobium and tungsten materials that is claimed to allow electric vehicles to be fully charged in minutes.
So far, niobium and tungsten are known as minerals that are often used to strengthen steel.
Nyobolt is a battery startup specifically for high-performance electric vehicles. The Cambridge-based startup said by the end of the decade its batteries would be ready for use in mass-produced passenger vehicles.
In the competitive electric vehicle industry, manufacturers have focused on batteries that provide long range. Some battery startups have gone further by developing smaller, longer lasting, cheaper batteries that also charge faster.
