Battery material company Nyobolt raises $10m Nyobolt, the Cambridge-based battery materials company, which is developing a new category of ultra-high power technology, has secured $10 million in Series A funding.
Led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors, the funding will be used to expand the company globally, build new facilities, and grow the engineering and operational teams.
Nyobolt (formerly CB2Tech) developed out of research at the University of Cambridge led by battery materials expert, Professor Clare Grey, and Dr. Sai Shivareddy. The company is rapidly expanding its global technical and commercial presence, with teams in the UK, the US and Asia, with decades of experience at Tesla, Samsung, Dupont and Dyson.
Published: Thursday, February 25, 2021
President Biden. Photo credit: Francis Chung/E&E News
The Biden administration is launching a review of ways to secure domestic supplies of batteries, battery minerals and other key electric vehicle components. President Biden is pictured during his inauguration in January. Francis Chung/E&E News
A sweeping Biden executive order yesterday is fueling debate about whether a U.S.-based electric vehicle supply chain can be jump-started affordably by the federal government without damaging the environment.
The plan signed by President Biden yesterday calls for a review of the state of domestic supplies of batteries, key battery minerals and semiconductors used in electric cars along with the rare earth minerals used in wind turbines and, potentially, other materials used in clean energy.
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