Anaphite, a promising Bristol-based startup, raises £10.4 million to advance its innovative EV battery technology.
- Led by founders Sam Burrow and Alexander Hewitt, Anaphite aims to reduce energy usage and manufacturing space in EV battery production.
- Investments were secured from prominent entities including World Fund, Maniv, EEI, and others, highlighting the market’s confidence in Anaphite’s potential.
- The startup’s groundbreaking technology promises significant reductions in energy consumption and factory space requirements for battery production.
- Anaphite’s rapid growth and potential for expansion in battery technologies are underscored by substantial funding and strategic leadership.
Anaphite, a Bristol-based startup, has successfully raised £10.4 million in its latest funding round, marking a significant milestone in its efforts to revolutionise the production of electric vehicle (EV) batteries. Founded in 2018 by chemist Sam Burrow and physicist Alexander Hewitt, Anaphite is dedicated to making EV batteries more affordable and energy-efficient. The company has pioneered a chemical composting process to dry coat electrodes, which it claims can reduce energy usage by around 30% and require only 15% of the factory floor space traditionally needed for cell manufacturing.
The recent funding round was led by World Fund and Maniv, with additional contributions from EEI, Nesta, Elbow Beach Capital, and Wealth Club, demonstrating considerable investor confidence in Anaphite’s innovative approach. According to World Fund partner Craig Douglas, Anaphite’s technology is not only market-leading but also positioned to disrupt the global EV market, facilitating a transition to an eco-mobility future. He highlighted the team’s breakthroughs in lithium-ion battery production and their applicability to emerging battery technologies such as sodium-ion and solid-state batteries.
Anaphite’s journey began at the University of Bristol, where it initially secured £60,000 to develop its flagship product. The startup has since attracted several million pounds from investors and grants, underscoring its ability to draw significant financial backing and industry support. Following a feasibility trial with the University of Warwick, Anaphite appointed Joe Stevenson, a former commercial director at Johnson Matthey, as its CEO, bringing experienced leadership to guide its expansion.
The company’s mission aligns with the broader sustainable energy movement, addressing an industry-wide demand for enhanced and cost-effective battery solutions. COO Alexander Hewitt expressed enthusiasm about the potential of Anaphite’s technology to revolutionise electrode production, reduce costs, and lower emissions for EV and cell manufacturers: “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.”
In March, Anaphite secured £1.6 million in government grant funding and private sector investment, further solidifying its position as a key player in the sustainable energy sector. The company’s unique technology and strategic team have positioned it for substantial future growth, with promising applications across various battery technologies.
Anaphite’s recent funding success exemplifies its pivotal role in advancing sustainable EV battery technology and its potential for significant industry impact.
