The deal with a consortium of private investors led by Flatz & Partners sees the total raised to CHF6.6m (US$6.6m) to bring its structured graphite anode technology to volume production for fast charging batteries.
The company is a spin out of the Swiss Federal Institute of Technology (ETH Zurich) and operates a research lab and production facility in Dübendorf, Zurich, developing its Aligned Graphite technology. This improves the microstructure of negative electrodes and significantly increases the charge- and discharge performance of lithium-ion batteries for fast charging of electric vehicle batteries in 20 minutes and high-performance applications.
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"With the new financing, our biggest funding in a year ever, Battrion is in a solid position to expeditiously execute our strategic and operational plan. Our Aligned Graphite Technology is a game changer when it comes to fast charging of batteries. We thank old and new investors and shareholders for their continued contribution,” said Dr. Ulrich Ehmes, President of the Board of Battrion.
CEO Markus Vollstedt is also leaving the company after just nine months, to be replaced by CFO Thomas Gebauer. Gebauer joined in June and was previously co-founder and co-CEO of Volterion GmbH, an energy storage company in Germany.
”With solid financing and a clear strategic plan, the Management Team will work hard to bring Battrion to the next level, especially into mass production in a fast growing market. I am thrilled to lead this highly experienced team with support from the Board,” said Gebauer.
“Battrion has made a big step ahead by introducing AGT technology to the industry and creating significant customer momentum, a development which has been the base for the new successful funding,” said Vollstedt
”We thank Markus for his dedicated work and the obtained results, specially by significantly increasing revenue, widening the customer base and count on him further as a valued investor. The Board welcomes Thomas to lead the Management Team with his strong experience and successful track record in technology companies,” said Ehmes.
The company has built a pilot line with a capacity of 20MWh per year of the material using a roll to roll process.
“The successful production of electrodes in this manufacturing facility is key as it proves the process for manufacturing Aligned Graphite electrodes at a relevant scale, de-risking the widespread use of the technology,” said Dr. Martin Ebner, co-founder and CTO. “With this technology we can reduce the charging time of batteries dramatically. For EVs this means, charging 400km of fresh range in 15 minutes instead of 25 minutes for the best vehicles today. This is possible because full charging power can be applied three times longer before it is reduced.”
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