2 weeks Ago By Ciaran Daly
The company provides energy storage and fast-charging technologies based on its proprietary anode battery material. This reportedly enables higher power density and ultra-fast charging capabilities – and, according to the firm, ‘without degradation’. Its batteries are currently deployed in heavy-duty vehicles as well as AI data centres, which the company says is an area it faces ‘unprecedented’ demand due to the significantly increased power requirements of AI technology.
It brings the total funds raised by Nyobolt up to $100m (~€87.9m), a welcome investment for a firm which in January warned it could run out of cash if it failed to secure fresh funding. According to its November 2024 accounts, the company made a $26.
5m (€23.3m) loss on revenues of $88,700 (~€78000) in 2023. However, the company’s revenues did pick up in 2024, with a spokesperson stating the 2023 accounts were “not reflective of how far we have come today”.
The company states it closed 2024 with $9m (~€7.9m) in revenue, with a further $150m (~€132m) in contracts already secured. Max Bautin, cofounder and managing partner of IQ Capital, said: “Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business.
In just a few short years they have become the go-to provider of high-power density solutions for AI warehouse operations and heavy-duty vehicles. Now with the advent of the AI revolution, they are in prime position to become the backbone of critical AI infrastructure.” Since its 2022 launch, Nyobolt has been developing battery anodes using niobium and tungsten that enable electric vehicles to charge in minutes.
In 2024, the firm reached a milestone when tests of its fast-charging technology demonstrated that its prototype Nyobolt EV electric sports car could be charged from 10 to 80 per cent SoC in four and a half minutes. The charging process was conducted using a 350 kW charger on the EV’s relatively small 35kWh battery. nyobolt.
com.
