Cambridge’s Echion Technologies, a global leader in niobium-based anode materials, has secured a £10 million investment from Barclays Sustainable Impact Capital and existing investor BGF. This funding will expedite the commercialisation of Echion’s XNO® anode material, which enables ultra-fast charging and long-life lithium-ion batteries.
The investment will be used to accelerate cell production, support Echion’s network of partnered cell manufacturers to bring XNO®-powered cells to market., expand market reach by providing additional resources to connect cell manufacturers with industrial OEMs. It will also enable Echion to scale up production of XNO® at the world’s largest niobium-based anode facility, which opened in November 2023.
Echion’s XNO® material offers significant advantages over traditional lithium-ion battery technologies. It provides ultra-fast charging in less than ten minutes and extreme temperature performance, maintaining high energy density in harsh conditions, making it ideal for demanding applications. XNO® also has a long cycle life, delivering over 10,000 cycles and is particularly well-suited for powering heavy-duty vehicles and industrial equipment, including:
- Battery electric and hybrid trains
- Mining haul trucks
- Electric buses
- Heavy-duty industrial transport and delivery vehicles
By addressing the limitations of current battery technology, XNO® has the potential to revolutionise various industries and accelerate the transition to a sustainable future.
Jean de La Verpilliere, CEO of Echion Technologies, commented: “This investment by Barclays and BGF is strong recognition of the value delivered by XNO®. By utilising XNO®, cell manufacturers can deliver the most-innovative, sustainable, and high performing batteries to facilitate the effective electrification of heavy-duty vehicles. It is gratifying to have some of the world’s leading investors support our ambitions and cement their belief in XNO® by investing significant capital. Their investment will enable us to take the next major step forward in our fast-moving company journey.”
Image source: Echion Technologies (L-R: Jean de la Verpilliere, Co-Founder and CEO, and Dr Alex Groombridge, Co-Founder and CTO)
