CBMM invests in British startup to accelerate business in electric batteries

 The company acquired 13% of Echion Technologies,a spin-off of Cambridge University, in the United Kingdom
CBMM, global leader in Niobium products led the first round of investment in Echion Technologies, a British company that develops advanced materials for lithium-ion batteries. The investment, made in conjunction with the investment Fund BGF, totaled £10 million and is another initiative of the company in order to consolidate its leadership in the development of technologies applied in battery materials with Niobium oxide, which will revolutionize electrical mobility worldwide. Together, CBMM and Echion intend to develop products with a unique combination of fast-charging capacity, efficiency, and high energy density, essential characteristics for the global energy transition, that is, in synergy with the decarbonization and promotion of electrification trends.

With this investment, the British company will expand the production of these new materials, which have already been evaluated and approved by the main battery cell suppliers in the world, increasing its capacity to meet the rising demand for pre-production tests. The resources will be allocated to strengthen customer support and commercial and P&D operations. Dr. Alex Groombridge, CTO Echion (left) and Jean De La Verpilliere, CEO Echion (right).

CBMM believes that the electric battery market will develop significantly in the next few years. Currently, the company has over 40 projects with universities, research centers and companies all over the world, aimed at the application of new Niobium technologies for this segment. “This year alone, we will invest £8.27 million in our Battery Program, an increase of around 60 percent against £5.1 million allocated in 2020. We want to increase the role of Niobium in this sector,” highlights Amado.

In addition, CBMM has invested £1.9 million in a new pilot plant for the development of Niobium technologies for electric batteries. The plant will be inaugurated this year and will be part of the Company’s industrial complex, located in Araxá, in the State of Minas Gerais.

 

Also read: Enabling the next generation of Li-ion batteries

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