E-magy, a scale-up of Dutch battery technology, has secured an additional € 5 million (US $ 6 million) in funding.
Shift Invest, an impact venture capital fund investing in Circular Technology, Smart Food & Agtech, Bio-based Innovation and Smart Materials, has led the funding round with the participation of existing investors, including PDENH.
The Dutch Ministry of Economic and Climate Policy has pledged innovation credits to accelerate the development of E-magy’s technology.
E-magy says the new capital injection will increase production of nanoporous silicon on fully operational pilot production lines and accelerate certification programs with auto and battery manufacturers.
The company will also use this money to expand its team and prepare for a new facility in the Netherlands. This will increase the annual production capacity to thousands of tons. E-magy is scheduled to begin production at the new facility in 2023.
“Additional funding will take place at an exciting time as we expand our own nanoporous silicon production capacity and work with car and battery manufacturers to improve battery cell performance,” E- Casper Peeters, co-founder and CEO of magy, said. ..
“Nanoporous silicon is the solution to the urgent need for high-energy batteries, enabling affordable and efficient electric vehicles for everyone. E-magy will power millions of electric vehicles. It is set.”
E-magy processes silicon in a scalable way to create “nanosponge” particles for high capacity silicon anodes in lithium-ion batteries. E-magy maintains nanoporous silicon, increases energy density by 40%, shortens battery charging time, expands range at low cost, and enables more compact models.
The company adds that silicon is “abundantly available and environmentally friendly.”
View press release
Original source: https: //e-magy.com/battery-tech-innovator-e-magy-raises-e-5-million-in-funding-round-led-by-shift-invest/
E-magy Secures Additional € 5 Million Funding | Automotive Industry News
Source link E-magy Secures Additional € 5 Million Funding | Automotive Industry News