Netherlands-based LionVolt, a startup providing next-generation batteries based on 3D solid-state technology, raised 4 million euros on 18th November.
Investors: Innovative Industries led the round and was joined by Brabantse Ontwikkelingsmaatschappij (Bombant Development Agency) and well-known investor Sake Bosch.
Purpose of funding: The Company plans on utilizing the funding to develop a more efficient and sustainable solid-state lithium-ion battery. In comparison to lithium batteries currently in use, 3D Solid-State Thin-Film batteries are significantly lighter and safer. Rapid charging, high energy density, intrinsic safety, and a long product lifespan are all features of these batteries. Moreover, the startup will use its solutions to power technology in several industries, such as wearable technology, electric vehicles (EVs) and aviation.
About LionVolt
Founded in 2020 by Karl McGoldrick and Sandeep Unnikrishnan, LionVolt is located in Eindhoven, Netherlands. LionVolt is a startup providing next-generation batteries based on 3D solid-state technology. In addition to delivering high performance, fast charging, intrinsic safety, and sustainability, the Company’s mission is to grow and scale 3D solid-state batteries. Its next-generation solutions will make the energy industry more efficient. 3D-scale technology offers several significant benefits. In addition, the batteries feature a 3D structure with a vast surface area and very short distances between both electrodes that are made by covering billions of pillars with thin layers of functional material. Charging and discharging times are reduced since the lithium-ions travel only a short distance.
What the founders have to say
“The battery industry requires a bold new approach to meet evolving needs in terms of cost, performance, safety and sustainability. We are pioneering that solution while building a strong ecosystem to support this innovation. The support of TNO and our investors will not only bring our R&D to its next stage but will further establish the Netherlands as a hub of Climate Technologies,” said Karl McGoldrick, CEO and co-founder at LionVolt B.V.
“This is an exciting milestone for LionVolt. We are creating batteries that will transform the energy sector in terms of safety, energy density and performance. LionVolt is proud to continue its game-changing innovation from the Brabant region,” said Dr Sandeep Unnikrishnan, CTO and co-founder at LionVolt.
What the investors have to say
“LionVolt’s new technology will provide consumers with better, longer-lasting batteries while also contributing to the adoption of exciting technologies like wearables and electric cars. We are proud to work with LionVolt and support their mission to revolutionize the battery industry,” said Nard Sintenie, partner at Innovation Industries.
“LionVolt is a strong example of the innovation occurring in the Brabant region of the Netherlands. The BOM invests in Lionvolt because the Company has enormous potential. Almost 80 percent of the supply chain the Company needs to build a production line can be sourced locally. LionVolt could be one of the next big OEM’s in the Brainport region,” said Jurgen van Eck at Brabant Development Agency (BOM).
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