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Home › Investment & Trading ›Masan High-Tech Materials Subsidiary to Invest £45m into Nyobolt

Masan High-Tech Materials Subsidiary to Invest £45m into Nyobolt

July 16, 2022. By News Bureau

H.C. Starck Tungsten Powders (HCS), a wholly owned subsidiary of Masan High-Tech Materials (MHT), announced the signing of definitive agreements to invest £45m into Nyobolt Limited (Nyobolt), a fast-charging Li-ion battery solutions company that leverages HCS's advanced tungsten materials in its anode, for a 15% equity interest on a fully diluted basis.

The investment, representing the majority of Nyobolt's Series B financing round, is expected to accelerate HCS's vision of becoming a high-tech, value-added business by developing new tungsten applications critical for the technologies of the future.

Nyobolt is commercializing lithium-ion batteries with record power density and ultra-fast charge capabilities. The company's technology builds on a decade of fast charge lithium-ion battery research led by University of Cambridge battery scientist Professor Dame Clare Grey.

"This investment marks a milestone in our strategy to move further downstream, and get closer to consumers by developing new, innovative applications including our recently trademarked "starck2charge" battery materials product range. Nyobolt's technology is a real breakthrough that we can help commercialize based on our vast experience in transferring innovative solutions into large-scale manufacturing. This partnership is also going to accelerate the development towards a circular economy for batteries via enhanced recycling and new models of use." says Hady Seyeda, CEO of H.C. Starck Tungsten Powders.

"I am really proud that just over two years after acquiring and integrating the global Tungsten business of H.C. Starck into MHT we have been able to expand our breadth of business capabilities through the acquisition of a significant equity stake in Nyobolt. We look forward to working together with the Nyobolt team to advance their product offering and opportunities to partner in the manufacturing and commercialisation of their products as well as offering a full life cycle for the advanced strategic materials required in the Nyobolt batteries." said Craig Bradshaw, Chief Executive Officer of MHT.

Sai Shivareddy, CEO and Co-founder of Nyobolt said: "Fast charging remains a critical unmet need as the world electrifies with more sustainable forms of energy – a need our technology addresses. We are excited about the partnership with H.C. Starck and see it as a steppingstone to increase scale and speed to market revealing the true potential of Nyobolt technologies. The Series B funding will put Nyobolt in the driving seat of a fast-moving battery industry and allow us to showcase the uniqueness of our battery technology, developed by our team of experts, which set to transform the energy storage industry. With H.C. Starck investment and technologies, Nyobolt will expand its manufacturing capabilities while minimizing its carbon footprint with an effective recycle and reuse program."

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H.C. Starck Tungsten Powders

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