Home   Business   Article Echion Technologies is set to roll out its innovative niobium-based XNO anode material for use in real-world applications after raising £29million in a successful Series B funding round Since incorporation in 2017 Echion has devised which delivers lithium-ion battery performance highly suited for industrial commercial and high-value applications that demand the highest up-time The Sawston-based company has also developed a long-standing partnership with the world’s leading producer of niobium which will see the opening of a 2,000 tonne per year XNO manufacturing facility this year This provides Echion with the manufacturing capacity to satisfy the large and growing demand for XNO across its global customer base of major cell manufacturers and original equipment manufacturers (OEMs) Demand is expected from sectors including automotive managing partner and commercial head of battery program at CBMM said: “Having invested in Echion since 2021 we are pleased to see the progress that has been made through our partnership so far and we are proud to support bringing this ground-breaking niobium-based technology to the market with our 2,000 tonne per year manufacturing capacity.” The £29m round was led by specialist battery and energy storage technology investor Volta Energy Technologies (Volta) with participation from existing investors CBMM Echion is Volta’s first investment into a European headquartered company and having Volta as the lead Series B investor highlights Echion as a rising British battery technology business within the crucial global energy storage industry CEO and founder of Volta Energy Technologies said: “We are excited to lead Echion’s Series B and make Volta’s first investment in Europe Echion and their XNO technology complements our growing portfolio of technologies that address significant market needs through innovations in the supply chains of battery and energy storage technology “We believe the power of XNO can uniquely improve performance The raise is something of a triumph for the CEO and co-founder of Echion Technologies who spun the company out of Cambridge University in 2017 “Our ambition is to deliver the best fast-charging batteries to unlock the electrification of heavy-duty vehicles,” said Jean “The investment from our partners Volta Energy Technologies BGF and Cambridge Enterprise Ventures cements our ambition to achieve full-scale commercialisation and full production volume “The entire Echion team has worked tirelessly to develop our flagship XNO material into what it is today and this has enabled us to establish partnerships with many major OEMs and cell manufacturers which have recognised the benefits of our materials “I look forward to being able to satisfy their demand for innovative niobium-based anode materials and to see industrial and commercial applications powered by XNO.” Plasteurope.com is a business information platform for the European plastics industry It is part of KI Kunststoff Information and PIE Plastics Information Europe one of the leading content providers for the European plastics industry We offer daily updated business news and reports polymer prices and other services for the international plastics industry News | Polymer Prices | Suppliers Guide | Jobs | Register | Advertising Echion Technologies a Cambridge-based developer of niobium-based has successfully raised its Series B funding round of £29M The round was led by specialist battery and energy storage technology investor Volta Energy Technologies The investment will enable Echion to execute its go-to-market strategy to see its innovative niobium-based XNO® anode material utilised in real world applications Echion is Volta’s first investment into a European headquartered company and having Volta as the lead Series B investor highlights Echion as a rising British battery technology business within the global energy storage industry Echion’s longstanding partnership with the world’s leading producer of niobium will see the opening of a 2,000 tonne per year XNO® manufacturing facility this year This provides Echion with the manufacturing capacity to satisfy the large and growing demand for XNO® across its global customer base comprised of major cell manufacturers and original equipment manufacturers (OEMs) and patented a niobium-based anode material and high-value applications that demand the highest up-time XNO® enables lithium-ion batteries that can safely charge in less than ten minutes maintain high energy densities even at low temperatures and deliver high power across a cycle life of more than 10,000 cycles CEO Jean de La Verpilliere commented: “Our ambition is to deliver the best fast-charging batteries to unlock the electrification of heavy-duty vehicles The investment from our partners Volta Energy Technologies “The entire Echion team has worked tirelessly to develop our flagship XNO® material into what it is today and this has enabled us to establish partnerships with many major OEMs and cell manufacturers which have recognised the benefits of our materials I look forward to being able to satisfy their demand for innovative niobium-based anode materials and to see industrial and commercial applications powered by XNO®.” the Commercial Head of Battery Program at CBMM A spin-out from the University of Cambridge Department of Engineering Echion Technologies is a leading developer of next generation materials for lithium-ion batteries Its products deliver a unique combination of fast-charging capability and high energy density – vital for the world’s shift towards decarbonisation through pervasive electrification The Series-A funding round has been led by CBMM – the world’s leading supplier of niobium products – and BGF – the UK and Ireland’s most active and dynamic investor of equity capital in growth economy companies – with the University of Cambridge Origin Capital and other existing shareholders also taking part This funding round increases BGF’s investment in companies engaged in carbon reduction and the energy transition to £230m and comes shortly after the announcement of a Clean Growth Advisory Board to be chaired by Baroness Brown of Cambridge Echion’s materials have been successfully evaluated by major battery cell and battery materials manufacturers around the world who are now moving forward to larger scale trials This financing will allow Echion to scale-up to multi-tonne level material production cost effective manufacturability as well as to supply the growing demand for material for pre-production trials Echion CEO Jean de La Verpilliere said: "We are tremendously excited to start the next stage in our journey to bring the Echion Mixed Niobium Oxide products to market We have great synergies within our investor base and will keep building a world-leading team to deliver exceptional performance to our customers We look forward to creating value for our partners and contributing to making superfast charging batteries a reality." Investment Manager at Cambridge Enterprise said: "Having supported Echion right from the start of its journey to commercialise its novel lithium-ion battery technology Cambridge Enterprise is delighted to see it complete this significant funding round Echion is now in a very strong position to deliver on the team's robust commercial traction and make a significant impact in the industry." The funds will also be used to strengthen customer support Echion is keen to hear from other cell or battery material manufacturers who also wish to evaluate its products Image: Echion Founders: Dr Alex Groombridge CEO (right) Image credit: Echion Technologies Echion is a world-leading developer of advanced lithium-ion battery materials whose products enable cell manufacturers to deliver cost-effective high-energy density and long-life power cells for a wide range of markets including automotive Echion provides materials and battery cell manufacturers with packages of protected intellectual property materials synthesis and cell integration know-how and for different end-user markets See: www.echiontech.com Cambridge Network Limited is a company registered in England under company No Website by KISS the Sawston-based developer of next-generation materials for lithium-ion batteries has raised £10m in a Series A funding round Echion spun out of the University of Cambridge in 2017 while co-founder and CEO Jean de La Verpillière was studying for a PhD in engineering at the Nanotechnology Doctoral Training Centre Echion has since patented innovative battery anode active materials for superfast charging. Its Mixed Niobium Oxide technology is proven and ready for use The completed finance round has been led by CBMM – the world’s leading supplier of niobium products – and BGF the UK and Ireland’s most active and dynamic investor of equity capital in growth economy companies Origin Capital and existing shareholders also took part Jean said: “We are tremendously excited to start the next stage in our journey to bring the Echion Mixed Niobium Oxide products to market “We have great synergies within our investor base, and will keep building a world-leading team to deliver exceptional performance to our customers. We look forward to creating value for our partners and contributing to making superfast charging batteries a reality.” Echion’s battery materials have now been successfully evaluated by major battery cell and battery materials manufacturers around the world who are now moving forward to larger-scale trials The financing will allow Echion to scale-up to multi-tonne level material production cost-effective manufacturability as well as to supply the growing demand for material for pre-production trials Richard Pugh, investor at BGF said: “Echion has huge potential to use its cutting-edge battery chemistry technology to accelerate the adoption of batteries in a range of applications “BGF is convinced that batteries will play a critical role in the energy transition and identified that Echion’s technology brings significant benefits in key areas such as fast-charging or high-power applications “This funding round will support an exceptional management team in completing the final push to commercial adoption working in parallel with a range of very high quality stakeholders for instance recent joint projects with Johnson Matthey and a number of other high profile international customers.” The funding increases BGF’s investment in companies engaged in carbon reduction and the energy transition to £230m, and comes shortly after the announcement of its Clean Growth Advisory Board chaired by Baroness Brown of Cambridge the board will “advise BGF on high-level sector trends and government policy and offer guidance on sub-sector trends and opportunities” CBMM and Echion will advance towards sustainable mobility by offering ultra-fast charging batteries that have greater stability and longer life We are optimistic and believe that these new products will be available within the next year.” Chris Gibbs, investment manager at Cambridge Enterprise said: “Having supported Echion right from the start of its journey to commercialise its novel lithium-ion battery technology “Echion is now in a very strong position to deliver on the team’s robust commercial traction and make a significant impact in the industry.” says: “This partnership is part of our global strategy to accelerate the time to market of our battery materials business front and bring to market an innovative niobium applied technology that will truly transform the way the world moves “We are optimistic and believe that these new products will be available within the next year.” the Sawston-based battery specialist spun out of Cambridge University is preparing to commercialise technology which has been trialled to allow charging times for both mobiles and electric cars to drop to six minutes The development could revolutionise the electric transport era allowing electric car owners to recharge at any garage over a cup of coffee rather than having to stay close enough to recharge overnight at home The restrictions are being lifted thanks to technology which involves replacing graphite with a new material possibly a compound - but Dr Jean De La Verpilliere isn't saying what Echion is the brainchild of Dr De La Verpilliere. Two years ago, while studying for a PhD in nanoscience at the University of Cambridge, he created a material that could be used in lithium batteries. In 2017 - the final year of his phD - he founded Echion, with a focus and expertise on high performance materials innovations for lithium, or Li-ion Echion "engages with chemicals and battery cell manufacturers to integrate its materials solutions into next-generation products" materials are simply ‘dropped in’ to lithium battery infrastructure which Echion has replaced with its own material “The powders are the central component of a lithium battery,” Jean says. “This is a new kind of powder which allows you to recharge in six minutes, not 45 minutes. This includes a car, so your electric car is almost as easy to charge as it is to refuel conventionally.” There’s another benefit: the new material doesn’t explode “The problem with the usual powders is that when you fast-charge them they can cause an explosion With the new material – which I can’t tell you any more about – it will accept fast-charging with no safety hazard Aided by two academic supervisors, Echion secured funding from Cambridge Enterprise the company can produce 1kg of powders a day enough for a single car battery- but that's about to change “We’re working on methods to make powders which are scaleable and where 1,000 tonnes could be made quite easily in factories," says Jean and are moving towards commercialisation early next year The tests have to be validated beforehand.” A second investor, Newable Private Investing, has joined Cambridge Enterprise Newable’s investment director Alex Sleigh said: “As an investment team we felt the product that Echion was producing was superior to anyone else in the market particularly with regards to the time required to charge the batteries “Furthermore, the support that Echion received from a world-class institution in the form of Cambridge Enterprise gave us huge confidence allied to our view that the majority of autonomous vehicles in the future will be powered by battery technology.” Echion is now looking to hire two sales representatives for commercialisation in 2020. Echion has held productive conversations with a number of OEM companies while also securing an official partnership with Vantage Power a company that designs and manufactures electric and hybrid systems for buses and heavy goods vehicles Each year Forbes Magazine publishes the Forbes 30 Under 30 what they dub their “annual encyclopedia of creative disruption” These are people sitting on ideas and aspirations with the potential to change the world And on the list this year is a group of Cambridge university engineers who want to change the way batteries work and the way we use them Katie - Italian physicist Alessandro Volta is credited with creating the first electric battery in the 1800s both this and the batteries around today us chemical reactions which produce chemical energy This is converted to electrical energy and that’s how things are powered in a circuit lithium ions are where battery power is at but despite their prevalence in computers Here’s Jean de la Verpilliere from Cambridge University’s Engineering Department and spin out company Echion Jean - I’m sure you’re familiar with how the battery of your phone dies out quickly you would be happy to switch from a petrol car to an electric car if you could use it more easily or drive longer on a single charge and that’s all down to the performance of the lithium ion battery we’re saying there’s a lot of room for improvement Lithium batteries can be dangerous if used at extreme temperatures or if they get significantly damaged Another issue is energy density: how much energy you can store in the battery itself before you need to charge it again But one specific issue that Jean and his colleagues are working on is charging time… it takes anywhere between 40 minutes and 6 hours to recharge a battery What we’re doing at Echion is we’re developing new materials that enable batteries to charge seven times faster so you’re talking a full battery charge for your car or your phone No more hanging around at a plug socket waiting for my ailing smartphone to come back to life But how do these super-speedy charging batteries work and what makes them different from other lithium batteries Jean - That’s a material production lab where we make large quantities of nanomaterials so hundreds of times smaller than the diameter of your hair We use this material to make electrodes and batteries That’s a piece of kit that enables us to make kilogrammes of quantities of nanomaterials that are then used into the battery to store the lithium ions The kit that you see here starts from a precursor to our material Katie - As in the stuff that I have to scrape off my bike Essentially a very very finely divided rust and because it’s nano we can use it into a battery Katie - How is the rust involved in the battery Jean - This rust is going to go onto the negative electrode of your battery so that’s the component of the battery that stores the lithium ions Katie - Coating the negative electrode of the battery with very very small particles of rust gives a much bigger surface area for the reaction with the lithium ions which means more opportunity for interaction and faster charging bigger sized particles of rust don’t actually interact very well with lithium ions Jean - If you take the current standard for the negative electrode of lithium ion batteries This graphite material cannot accept fast charge Fast charging your battery means bombarding your negative electrode with a high rate of lithium ions If you try and do this with a graphite battery the lithium ions will not nicely intercollate and be stored into the graphite Instead they will be plated on top of the electrode and you will grow what’s called metal dendrites which are little towers of lithium metal that will short circuit your whole battery and that will lead to a fire and an explosion we can bombard the material with as many lithium ions as you want Katie - So nanoscale rust on the negative electrode can safely capture lots of lithium ions at a fast rate The team are also adding carbon nanotubes to the rust which act as a sort of ‘electron highway’ conducting the heat and electricity out of the electrode So what kind of impact could this technology have Jean told me that whilst there’s still work to do to bring the size of these batteries up to what’s needed charging a car battery in minutes rather than hours could help make electric cars a more practical option for many people Jean - Being able to charge in five minutes basically means that charging becomes painless Five minutes is about the time it takes for you to refill your car at the petrol station What we’re saying is that if you can charge easily your can recharge more frequently and you don’t need to carry a huge battery with you And that’s important because the cost of the battery in an electric car right now is more than 50% of the cost of the vehicle and that’s because we need huge batteries because they charge so slowly Let’s reduce the size of the battery by a factor of four the weight of the battery will be reduced and so you’ll be able to carry more passengers for instance cambridge_logo_footer.png ©The Naked Scientists® 2000–2020 | The Naked Scientists® and Naked Science® are registered trademarks created by Dr Chris Smith Information presented on this website is the opinion of the individual contributors and does not reflect the general views of the administrators Cambridge University or the public at large.