Boundary Capital has announced its latest investment in Echion Technologies Limited, a business which has the potential to disrupt the chargeable electric vehicle battery market.
Echion Technologies is a spinout company from the University of Cambridge Engineering Department, commercialising superfast charging lithium-ion battery cells for electric vehicles. The core technology is based on novel active materials enabling safe battery fast-charging with no compromise on battery energy density or cost.
Echion Technologies recently raised a £1.5 million seed funding round, with and additional £600k Innovate UK grant, and now aims to demonstrate vehicle-ready battery cells within the next 18 months. The company works with a strong network of partners to bring its technology to the market and aims to become a key player in the booming advanced battery materials landscape.
Dr Richard Leaver, the Partner of Boundary Capital managing this investment says: “The lithium-ion electric vehicle battery market is of worldwide importance, providing a step-change in ground based travel. To work with such an innovation is very exciting. We’re delighted to invest in a technology which has so much disruptive potential and with a such a talented team.”