Anaphite, a pioneering startup in electric vehicle (EV) battery production technology, has successfully raised $13.7 million in a Series A financing round. This significant investment is set to propel Anaphite’s innovative approach to reducing both the cost and carbon footprint of EV battery manufacturing.
The UK-based company, established in 2018 by Chemist Sam Burrow, who serves as the Chief Technology Officer (CTO), and Physicist Alexander Hewitt, the Chief Operating Officer (COO), has developed a groundbreaking solution designed to transform the EV industry. Anaphite’s method enables the adoption of “dry” processes in manufacturing, eliminating the need for cathode drying ovens and slashing energy requirements for electrode production by up to 90%. This substantial reduction greatly diminishes the carbon footprint associated with traditional EV battery production.
At the core of Anaphite’s technology is a unique chemical compositing process that produces a “precursor powder.” This method ensures reliable dry coating capability for high-speed, high-performance electrode production without compromising the battery’s performance metrics. According to company representatives, this innovation could potentially reduce battery manufacturing costs by up to 40% and decrease carbon intensity by 30%.
Sam Burrow expressed his enthusiasm for their advancements, stating, “Our unique approach and technology portfolio give the EV supply chain the flexibility it needs, removing many barriers to high-yield manufacturing and battery design. It’s exciting to be applying chemistry to such a meaningful manufacturing challenge.”
The funds obtained from this Series A round will be channelled towards scaling Anaphite’s dry coating capabilities and commissioning a new plant capable of producing tonnes of its composite cathode material. The company also plans to use the capital to bolster hiring efforts and further invest in research and development initiatives.
The Anaphite team.
Highlighting the potential industry impact, Alexander Hewitt remarked, “This funding will help Anaphite scale up and become a partner of choice for the global market. Li-ion battery electrodes have been produced at scale the same way for decades, and with the advent of the sustainable energy revolution, there is an acute hunger for change and improvement in the industry.”
The investment round was co-led by climate tech venture capital firm World Fund and sustainable mobility-focused early stage investor Maniv. Other notable participants included existing investors Elbow Beach Capital and Wealth Club, along with new contributors such as EEI and Nesta.
Commenting on the investment, Michael Granoff, Founding Partner at Maniv, conveyed optimism about Anaphite’s potential to drive forward the evolution of battery manufacturing in a sustainable direction.
Anaphite’s recent financial boost and the innovative approach stand to significantly influence the EV battery industry by not only advancing production technologies but also promoting environmental sustainability within the sector.
