Elbow Beach Capital, a decarbonisation, sustainability and social impact investor, has made a £1.5 million investment as part of a £4.1 million seed finding round in graphene technology innovator, Anaphite.
Wealth Club, Blue Wire Capital, Oxford Investment Opportunity Network, Zero Carbon Capital, Silicon Roundabout Ventures and Deeptech Labs, also participated in the round.
Anaphite focuses on the enhancement of lithium-ion batteries for the electric vehicle industry. Roughly 30% of an EV’s costs come from its battery, and Anaphite’s technology can reduce battery manufacturing costs by over 10%. The company’s technology also improves battery capacity and charge rates, potentially reducing charging time by 50%.
The proceeds of this round will be used to open licence negotiations with a material supplier or cell manufacturer, build a materials demonstration reactor with 100kg/day production volume.
Anaphite’s next phase of growth will be led by Joe Stevenson, who is joining Anaphite as CEO in September. Stevenson brings over 20 years of experience in the commercial and engineering sectors, having most recently been employed as a commercial director for Arcola Energy and Ballard Motive Solutions. Prior to this, Stevenson was a corporate strategy director at Johnson Matthey.
