HCMC – H.C. Starck Tungsten Powders (HSC), a wholly owned subsidiary of Masan High-Tech Materials (MHT), yesterday, July 15, announced the signing of agreements to spend 45 million British pounds (US$53.3 million) on a 15% equity interest on a fully diluted basis in Nyobolt, a British fast-charging Li-ion battery solutions company.
The investment, representing the majority of Nyobolt’s Series B financing round, is expected to accelerate HCS’s vision of becoming a hi-tech, value-added business by developing new tungsten applications critical for the technologies of the future.
Nyobolt is commercializing lithium-ion batteries with a record power density and ultra-fast charge capabilities.
Such capabilities enable new applications and an enhanced customer experience with the target end-uses being high performance and industrial vehicles, automation (robotics), consumer appliances, cordless tools, stationary storage and mobile rapid charging.
While proceeds from the HCS investment will help fund Nyobolt’s construction of its anode manufacturing facilities and R&D centers, both parties anticipate significant synergies through future collaborations, including recycling, tungsten supply, cathode technology, and manufacturing know-how and infrastructure.
Hady Seyeda, CEO of H.C. Starck Tungsten Powders, said, “This investment marks a milestone in our strategy to move further downstream, and get closer to consumers by developing new and innovative applications including our recently trademarked starck2charge battery materials product range.
“Nyobolt’s technology is a real breakthrough that we can help commercialize based on our vast experience in transferring innovative solutions into large-scale manufacturing. This partnership is also going to accelerate the development toward a circular economy for batteries via enhanced recycling and new models of use,” he added.
“We look forward to working together with the Nyobolt team to advance their product offering and opportunities to partner in the manufacturing and commercialization of their products as well as offering a full life cycle for the advanced strategic materials required in the Nyobolt batteries,” said Craig Bradshaw, CEO of MHT.
Nyobolt Co-Founder & Chief Scientist Professor Dame Clare Grey added, “The funding from H.C. Starck will help Nyobolt to scale up our operations in the UK and United States and bring a more sustainable solution into the energy storage industry.”
Sai Shivareddy, CEO and Co-founder of Nyobolt, said fast charging remains a critical unmet need as the world electrifies with more sustainable forms of energy. With H.C. Starck’s investment and technologies, Nyobolt will expand its manufacturing capabilities while minimizing its carbon footprint with an effective recycle and reuse program.”
H.C. Starck Tungsten Powders is the world’s leading manufacturer of high-quality tungsten powder tailored to individual customer needs.
Masan High-Tech Materials is the global leader in providing advanced tungsten materials used in key industries such as electronics, chemical, automotive, aviation and aerospace with production facilities in Vietnam, Germany, Canada and China, servicing the world.
Masan High-Tech Materials is an affiliate of Masan Group, one of Vietnam’s largest private sector corporations.