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Ultra-fast charging battery start-up Nyobolt raises £50m in Series B round led by HCS

Nyobolt, a pioneers in end-to-end fast-charging battery systems, has held the initial close of a £50 million Series B funding round which will enable the company to enter a stage of manufacturing at scale.

HC Starck Tungsten Powders (HCS), a subsidiary of Masan High-Tech Materials, one of the world’s largest tungsten suppliers – a key component of Nyobolt’s technology – led the round alongside existing deeptech investor IQ Capital. 

The investment is set to drive Nyobolt’s market entry by establishing its presence and launching the manufacturing of millions of units next year. HC Starck funding will enable Nyobolt’s first materials manufacturing plant in the UK, as well as expansion of the US cell engineering facility and the teams’ growth across the globe.  
Cofounded in 2019 by Professor Clare Grey DBE, FRS and CEO Dr Sai Shivareddy, Nyobolt is commercialising high-performance battery and charging technologies to create a world where lengthy charge times no longer exist. The investment and future collaboration between Nyobolt and HC Starck in the supply of materials, scale up of manufacture and recycling aims to provide a sustainable solution supporting the transition to net zero in multiple sectors.

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