Nanoramic secures investment for EV battery technology

Nanoramic secures investment for EV battery technology

Nanoramic secures investment for EV battery technology

Nanoramic, a US-Based energy storage and advanced materials company, has received a substantial investment from Fortistar, a private investment firm.

To date the company has raised $75m that will enable it to further develop and commercialise Neocarbonix, its nanocarbon electrode technology.

The company claims that its Neocarbonix technology will transform energy storage for electric vehicles (EVs): substantially increasing energy density by 30% relative to current best-in-class batteries, while simultaneously reducing cost of production by 20%. Neocarbonix will also enable lithium-ion batteries to be charged in less than 15 minutes.

Crucially, Neocarbonix will help to eliminate the need for toxic solvents, such as NMP, during battery manufacturing and battery recycling. Its manufacturing process is simple and low-cost, utilizing existing equipment and serving as a drop-in replacement for existing battery designs.

According to Nanoramic, Li-ion cells containing Neocarbonix at their core comfortably surpass standard automotive battery cycling requirements, thereby extending their lifetime.

Eric Kish, CEO of Nanoramic, said, “Our Neocarbonix electrode technology is set to transform the future characteristics of Li-ion energy storage, providing rapid scalability thanks to its compatibility with existing battery designs. Looking even further ahead, Neocarbonix will also provide similar advantages for the next generation of solid-state batteries.”

Neocarbonix electrodes are produced using a low-cost process that utilizes an advanced 3-D nanocarbon binding structure. Battery and supercapacitor manufacturers can use Neocarbonix to optimise their production processes, reduce cost, and deliver products that perform exceptionally well in an extremely broad range of environments.

Nanoramic maintains several major licensing agreements that will help scale production of their technologies to a global level and is working with manufacturers of batteries, automobiles, electronics, and other industries to develop and license user-specific versions of its battery and supercapacitor technologies.