UK-based startup Anaphite has announced the closing of a £4.1-million (around US$4.8 million) seed round, led by Elbow Beach Capital with a £1.5-million (US$1.8 million) investment and supported by Wealth Club, Blue Wire Capital, Oxford Investment Opportunity Network, Zero Carbon Capital, Silicon Roundabout Ventures and Deeptech Labs.
Anaphite incorporates graphene into battery materials, via an inexpensive and scalable process that fits directly into existing cell production lines. Anaphite mainly focuses on the enhancement of lithium-ion batteries for the electric vehicle industry, for which it aims to reduce battery manufacturing costs by over 10%. The company’s technology is also said to improve battery capacity and charge rates, potentially reducing charging time by 50%.
The proceeds of this round will be used to open license negotiations with a material supplier or cell manufacturer, and build a materials demonstration reactor with 100kg/day production volume. Test potential niche applications for Anaphite’s technology, for example in drones or e-bikes, validate the company’s battery prototype with an OEM, and complete a 10m roll-to-roll coating line demonstrating Anaphite’s novel low energy battery production process, by the end of 2023. Anaphite aims for its technology to be used in commercial EV production by 2028.