Anaphite’s recent funding, equivalent to $13.7 million or £10.4 million, will enable the company to expand production of its dry coating precursor (DCP) technology. This innovative approach aims to make the production of electric vehicle batteries 30% less carbon-intensive and 40% more cost-effective. Currently collaborating with global automotive and battery cell manufacturers, Anaphite is poised to make significant strides in the EV market.
The financing round was led by World Fund and Maniv, with additional investments from EEI, Nesta, Elbow Beach Capital, and Wealth Club. Craig Douglas, Partner at World Fund, remarked, “Anaphite’s unique technology and smart, tenacious, market-savvy team are set to disrupt the global EV market. The team has already made breakthroughs in lithium-ion battery production, and their technology will be applicable to a wide range of new battery technologies, including sodium-ion and solid-state.”
Founded in 2018 by chemist Sam Burrow (CTO) and physicist Alexander Hewitt (COO), Anaphite has developed a proprietary chemical composition process. This process produces a precursor powder that ensures reliable dry coating for high-performance electrode production. The company estimates that its technology can reduce production space requirements by approximately 15% when coating battery anodes.
Over the past 18 months, Anaphite has operationalized a pilot production line. With the new capital, the company plans to fully commission a plant capable of supplying tons of its patented composite cathode material. The funding will also support extensive hiring initiatives and further research and development to expand its technology portfolio.
Source: Anaphite News