Echion Technologies, a developer of niobium-based, fast-charging battery materials, has successfully completed its Series B funding round, raising £29 million (US$ 37 million) in investment capital. The round was led by specialist battery and energy storage technology investor Volta Energy Technologies, with participation from existing investors CBMM, BGF, and Cambridge Enterprise Ventures.

The investment will enable Echion to execute its go-to-market strategy to see its innovative niobium-based XNO anode material utilized in real world applications, at volume. Echion is Volta’s first investment into a European headquartered company.

Echion’s longstanding partnership with the world’s leading producer of niobium, CBMM, 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 demand for XNO across its global customer base comprising major cell manufacturers and original equipment manufacturers (OEMs).

Source: Echion

Echion has devised, tested, and patented a niobium-based anode material, XNO, which delivers lithium-ion battery performance highly suited for industrial, commercial, and high-value applications that demand the highest up-time, lowest total cost of ownership, and highest safety. 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.