Anaphite Raises £4.1m in Seed Funding

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anaphite, a Bristol, UK-based company that incorporates graphene into lithium-ion batteries has raised £4.1m in seed funding.

Elbow Beach Capital, a decarbonisation, sustainability and social impact investor, led the round with a £1.5m investment, backed by Wealth Club, Blue Wire Capital, Oxford Investment Opportunity Network, Zero Carbon Capital, Silicon Roundabout Ventures and Deeptech Labs. Jon Pollock has joined the Anaphite Board of Directors as a representative of Elbow Beach Capital effective immediately. A member of Elbow Beach Capital’s advisory board, Dr. Johnathan Matlock serves as an advisor to the company’s board of directors.

The company intends to use the funds to expand its development efforts, open license negotiations with a material supplier or cell manufacturer, build a material demonstration reactor with a production volume of 100 kg/ day.

Founded in 2018 by Sam Burrow and Alex Hewitt, Anaphite creates patent-pending self-assembly technology to develop improved graphene cathodes and new coating methods for EV batteries, especially Li-ion batteries. The company is incorporating graphene into battery materials, through a scalable process that integrates directly into existing cell production lines. Anaphite is focused on improving lithium-ion batteries for the electric vehicle industry.

Test potential niche applications for the technology, for example in drones or e-bikes, validate the company’s battery prototype with an OEM, and complete a 10m roll-to-roll coating line demonstrating the new production process energy-efficient battery packs from Anaphite by the end of 2023. Anaphite aims to have its technology used in commercial EV production by 2028.

The company’s next phase of growth will be led by Joe Stevenson, who will join Anaphite as CEO in September. He brings over 20 years of experience in the commercial and engineering sectors, having most recently been employed as Commercial Director for Arcola Energy and Ballard Motive Solutions. Previously, Stevenson was Director of Corporate Strategy at Johnson Matthey.

EndSME

08/26/2022

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