Encouraged by the growing demand for reliable and inexpensive electronics vehicles in the United States and Europe, Anaphite, a UK-based graphene technology innovator, is raising fresh capital to develop EV battery technologies and help EV manufacturers overcome key commercial barriers to the mass adoption of Lithium-ion batteries.
Anaphite has raised £4.1 million in seed funding. The company aims to accelerate the mass adoption of EV batteries, by developing and licensing EV battery technologies that enable faster power charging and increased range.
The newly-raised funds will be used to finance development efforts such as opening license negotiations with a material supplier or cell manufacturer and developing a materials demonstration reactor with a 100kg/day production volume.
Elbow Beach Capital, a sustainability and social impact investor, led this funding round with participation from Wealth Club, Blue Wire Capital, Oxford Investment Opportunity Network, Zero Carbon Capital, Silicon Roundabout Ventures, and Deeptech Labs.
As part of Elbow Beach Capital’s £1.5 million investment in the company, Elbow Beach Capital’s Jon Pollock will join Anaphite’s Board of Directors as a representative of Elbow Beach Capital. Dr. Johnathan Matlock, an Elbow Beach Capital Advisory Board member, acts as the company’s Board advisor.
Jon Pollock, CEO of Elbow Beach Capital, added: “The advancement of lithium-ion battery technology is an essential part of the green energy transition and Anaphite’s technology has the potential to accelerate the already rapidly growing EV market.”
Founded in 2018 by Sam Burrow and Alex Hewitt, Anaphite is leading a sustainable energy revolution, focusing on enhancing lithium-ion batteries for the electric vehicle industry. The company is working on patent-pending self-assembly technology to develop graphene-enhanced cathodes and novel coating methods for the next generation of EV batteries, particularly lithium-ion batteries.