Anaphite, a Bristol-based EV battery startup, has successfully raised £10.4m in its latest funding round.
- Founded in 2018, Anaphite aims to revolutionise EV battery production with its innovative technology.
- The company claims its method can reduce energy usage by 30% and factory space by 15%.
- Key investors in the funding round include World Fund and Maniv, highlighting strong market confidence.
- Anaphite’s technology is anticipated to significantly impact the global EV market.
Anaphite, headquartered in Bristol, has achieved a significant milestone by raising £10.4m in a recent funding round. Established by Sam Burrow and Alexander Hewitt in 2018, the startup has developed an innovative chemical processing method that intends to enhance the production efficiency of electronic vehicle (EV) batteries. This method is poised to significantly lower both the energy expenditure and the physical space required in manufacturing, marking a transformative leap in industrial processes.
Hewitt, now serving as the Chief Operating Officer, remarked on the longstanding traditional production methods for Li-ion battery electrodes, emphasising an industry-wide demand for more sustainable solutions. He noted, “Our technology has the power to revolutionise the electrode production process while lowering costs and emissions for EV and cell manufacturers, and we can’t wait to see it in action.” This proposition aligns with the broader shift towards sustainable energy solutions, positioning Anaphite at the forefront of this evolution.
Initially rooted within the University of Bristol, Anaphite’s journey began with a foundational grant of £60,000, progressing through various funding phases from both investors and grants. The strategic addition of Joe Stevenson as CEO, a former commercial director at Johnson Matthey, has further strengthened the company’s executive leadership. This new financial influx is spearheaded by the World Fund and Maniv, with substantial contributions from other firms such as EEI, Nesta, Elbow Beach Capital, and Wealth Club.
Craig Douglas, a partner at World Fund, highlighted Anaphite’s potential for disruptive impact within the EV sector, asserting, “Their technology is genuinely market-leading and will help the world transition to an eco-mobility future.” The backing from such prominent investors underscores a significant vote of confidence in Anaphite’s future prospects and its innovative approach. More broadly, this development represents a critical step in advancing battery technologies, with the potential to extend Anaphite’s solutions to sodium-ion and solid-state batteries.
Earlier in the year, Anaphite had already demonstrated its capacity to attract funding, securing £1.6m through a combination of government grant schemes and private investment contracts. This financial momentum has underscored the startup’s ability to engage and convince a wide array of stakeholders regarding the viability and potential of its technology.
Anaphite’s successful funding round marks a pivotal advancement in EV battery production, setting the company on a promising trajectory within the industry.
