In a recent development that underscores the growing demand for sustainable energy solutions in the automotive sector, Anaphite, a Bristol-based startup, has successfully raised £10.4 million to enhance the production of electric vehicle (EV) batteries. Founded in 2018 by chemist Sam Burrow and physicist Alexander Hewitt, Anaphite has pioneered a chemical composting technique to dry coat electrodes for EV batteries, reducing energy consumption by approximately 30% and factory floor space by 15%.
Alexander Hewitt, now COO of Anaphite, expressed the company’s commitment to industry change: “Li-ion battery electrodes have been produced at scale the same way for decades, and with the advent of the sustainable energy revolution, there is an acute hunger for change and improvement in the industry. 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.”
Anaphite’s journey began at the University of Bristol, where the founders initially secured £60,000 to develop their flagship product. Following several rounds of funding and a feasibility trial with the University of Warwick, the startup appointed former Johnson Matthey commercial director Joe Stevenson as CEO. The latest round of funding was led by the World Fund and Maniv, with additional contributions from EEI, Nesta, Elbow Beach Capital, and Wealth Club.
Craig Douglas, a partner at the World Fund, praised Anaphite’s contributions to the EV industry: “Anaphite’s unique technology and smart, tenacious, market-savvy team are set to disrupt the global EV market. Their technology is genuinely market-leading and will help the world transition to an eco-mobility future. The team has already made breakthroughs in lithium-ion battery production, and their technology will be applicable to a wide range of new battery technologies, including sodium-ion and solid state. Anaphite has the potential for exponential growth, and we at World Fund are proud to be supporting them as they grow.”
In March, the company also secured £1.6 million through government grants and private investments.
Image source: Anaphite
