A Bristol-based battery technology firm, Anaphite, has successfully raised £10.4 million in its latest funding round, signalling a significant advancement in the electric vehicle sector.
- Anaphite, founded in 2018, aims to revolutionise electric battery production, making it more cost-effective and less energy-intensive.
- The recent funding round was co-led by notable investors, including World Fund and Maniv, and featured a range of climate-focused investors.
- The financial support will enable Anaphite to scale operations, commission a new plant, create jobs, and invest in further research and development.
- Founders Sam Burrow and Alexander Hewitt have made strides since their university days, securing multiple rounds of funding and expanding their technical capabilities.
Anaphite, a prominent player in battery technology, has recently garnered £10.4 million in a Series A funding round to advance its innovative solutions aimed at reducing the cost and environmental impact of electric vehicle battery manufacturing. This initiative is poised to transform the production landscape, enhancing efficiency and sustainability within the industry.
The company, initiated by chemist Sam Burrow and physicist Alexander Hewitt, has established a reputation for pioneering technology that can revolutionise the electrode production process. This advancement is particularly relevant in an industry seeking cost reductions and lower emissions, as highlighted by Chief Operating Officer Alexander Hewitt when he stated, “Our technology has the power to revolutionise the electrode production process while lowering costs and emissions for EV and cell manufacturers.”
Anaphite’s journey began as a university project, culminating in the filing of its first patent in 2018 and a successful pre-seed funding round of £60,000. The firm has since moved from strength to strength, notably advancing its technology through rigorous trials and collaborations with institutions such as the University of Warwick.
The recent funding was co-led by World Fund and Maniv, with additional support from EEI, Nesta, and longstanding backers Elbow Beach Capital and Wealth Club. This diverse investor base underscores the high level of interest and confidence in Anaphite’s potential to lead in the mobility, energy, and environmental sectors.
The capital influx will facilitate the establishment of a new plant, foster job creation, and bolster Anaphite’s research and development efforts, enabling the company to broaden its technological reach. Anaphite’s CEO, Joe Stevenson, articulated the significance of this development, stating, “Securing capital from investors that are renowned specialists in mobility, energy, and environmental investment around the world, is a huge validation moment for Anaphite, and affords us the resources to extend our technical lead in the market.”
The successful funding round positions Anaphite to significantly impact the future of battery technology and electric vehicle production.
