imec spinout raises €10m for solid-state battery cell technology
A newly created spin-off company from Belgian research lab imec has raised €10m to commercialise solid-state lithium ion battery cell technology.
SOLiTHOR, led by battery serial entrepreneur Huw Hampson-Jones, raised the seed investment funding from in-house fund imec.xpand supported by a strong investment syndicate including LRM, Nuhma and FPIM.
imec has been working on the solid state battery technology for 10 years and proposing components enabling an assembly process that is more compatible with classical Li-ion batteries assembly lines.
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“SOLiTHOR’s technology is unique and is based on breakthrough chemistry and
components,” said Hampson-Jones, founder and CEO of SOLiTHOR, who was previously CEO of UK sulfur battery pioneer Oxis Energy, which collapsed in 2021.
Solithor was founded in September 2021 by Hampson-Jones and Dr Fanny Bardé of imec, has been fully operational since early 2022 aims to set up a manufacturing plant alongside imec. Oxis Energy also has ambitious plans for manufacturing, with deals in Wales and South America for plants.
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“The nano-Solid Composite Electrolyte and the nano-anode were spearheaded within the EnergyVille labs and patented by imec,” said Hampson-Jones. “This revolutionary technology will improve energy density, charging speeds and crucially, increase safety and will be far easier to manufacture than other solid-state batteries. The Research and Development programme will be led by Founder and Chief Technology Officer, Dr Fanny Bardé, a seasoned expert in battery technology, together with imec’s R&D teams.”
“We are delighted to see SOLiTHOR bringing some of our most promising technologies to the market. We believe SOLiTHOR is on a path to unleash the great potential of this technology for the society: contribute to the reduction of our carbon footprint through further electrification of our transport, and also contribute to Europe’s strategic positioning and independence in the energy sector. SOLiTHOR will impact our local economy thanks to the expected establishment of manufacturing activities to serve its customers globally,” says Olivier Rousseaux, Director
Venture Development at imec.