Eindhoven-based LionVolt, a startup company specialising in solid-state lithium-ion batteries, announced on Friday, February 9, that it has secured €15M in equity investment over the past few months.
However, the names of the investors who participated in the round were not disclosed.
The Dutch company will use the funds to accelerate its growth and aims to position itself as the leading next-gen battery company in the Netherlands and the UK.
The announcement comes a few days after acquiring a battery cell production line from Scottish company AMTE Power.
LionVolt: Providing next-gen solid-state batteries
Founded in the spring of 2020 by Karl McGoldrick and Sandeep Unnikrishnan, LionVolt aims to develop and scale 3D solid-state batteries that deliver high performance, fast charging, intrinsic safety, and sustainability.
The Dutch company leverages the region’s extensive experience in thin film technology to develop a 3D electrode architecture to enable next-generation batteries.
The company claims that its design is 100 per cent safe, weighs 50 per cent less, and provides 200 per cent improved performance compared to the most advanced lithium-ion batteries available today.
Additionally, LionVolt says its products feature enhanced energy density, superior cycle life, higher charging speed, and enhanced safety.
Alongside its core innovation team in Eindhoven, the company is building a pilot production line at the Brainport Industries Campus (BIC) to further develop and commercialise its 3D-structured electrodes.
The BIC pilot line allows the company to step up its first production capacity in an ecosystem that supports LionVolt’s growth ambitions.
LioVolt spun off last year from TNO at Holst Centre (located within the High Tech Campus of Eindhoven, the Netherlands), building on seven years of research and development of its innovative battery design.
Read the orginal article: https://siliconcanals.com/news/startups/eindhovens-lionvolt-gets-15m/