Dutch battery start-up LionVolt completes € 4 million start-up cycle led by Innovation Industries
EINDHOVEN, Netherlands – (COMMERCIAL THREAD) – European battery start LionVolt announced today that it has successfully closed a round of funding of 4 million euros, bringing its total funding this year to more than 5 million euros.
The round was led by a venture capital firm Deep Tech Innovative industries and joined by a start-up fund focused on Brabant Brabantse Ontwikkelingsmaatschappij (Brabant Development Agency, BOM) and renowned investor Sake Bosch. LionVolt split last year from TNO To Holst Center, drawing on six years of research and development of its innovative battery design.
The funding will support the company’s development of a lithium-ion solid-state battery that is more efficient and durable than any lithium-ion battery available on the market today. LionVolt’s state-of-the-art design delivers higher energy density, faster charging, and longer life – leading to fewer batteries used (and discarded) over time. The LionVolt battery will power technology in several industries including wearable devices, electric vehicles (EVs) and aviation.
âThe battery industry needs a bold new approach to meet evolving needs in terms of cost, performance, safety and sustainability. We are pioneering this solution while creating a strong ecosystem to support this innovation, âsaid Karl McGoldrick, CEO of LionVolt. âThe support of TNO and our investors will not only take our R&D to the next level, but further establish the Netherlands as a climate technology hub. ”
âThis is an exciting step for LionVolt,â said LionVolt CTO and co-founder Dr. Sandeep Unnikrishnan. âWe are creating batteries that will transform the energy sector in terms of safety, energy density and performance. LionVolt is proud to continue its revolutionary innovation in the Brabant region. ”
âLionVolt’s new technology will provide consumers with better, longer-lasting batteries while also helping the adoption of exciting technologies such as portable devices and electric cars,â added Nard Sintenie, partner at Innovation Industries. âWe are proud to work with LionVolt and support their mission to revolutionize the battery industry. ”
âLionVolt is a vivid example of the innovation happening in the Brabant region of the Netherlands,â added Jurgen van Eck from the Brabant Development Agency (BOM). âThe nomenclature invests in LionVolt because the company has enormous potential. Almost 80% of the supply chain that the company needs to build a production line can be supplied locally. LionVolt could be one of the next major OEMs in the Brainport area.
Earlier this year, LionVolt already raised â¬ 1.25 million from TNO, venture capital firm Deep Tech Innovation Industries, impact fund Goeie Grutten and the Brabant-focused startup investment. , the Brabant Startup Fonds (BSF) and the Brabantse Ontwikkelingsmaatschappij (BOM).
With more than seven years of R&D at the TNO Holst Center, LionVolt is developing a 3D solid-state lithium metal battery. Its mission is to present new generation batteries with high energy density, fast charging, safe and efficient while being more environmentally friendly than traditional lithium-ion batteries. LionVolt’s design is 100% safe, weighs 50% less, and offers 200% improved performance over the most advanced lithium-ion batteries available today. To learn more, visit www.lionvolt.com.
About Innovation Industries
Innovation Industries is a leading investment firm and strategic innovation partner for lasting impact, leveraging deep industry expertise and rich business flow in areas such as semi -con, photonics, robotics, medical technologies, food technologies and mechatronics. We facilitate and drive the creation and large-scale adoption of sustainable deep technology solutions and translate these opportunities into value for our investors and other stakeholders. We invest at all stages of development and our typical investment size ranges from 5 to 30 million euros (cumulative). For more information on Innovation Industries, see: www.innovationindustries.com
About Brabantse Ontwikkelingsmaatschappij (BOM)
The Brabant Development Agency (BOM) works with entrepreneurs to create a sustainable Brabant economy. BOM shares knowledge, develops networks and provides capital to innovative Brabant companies and sustainable energy projects. It also encourages forward-looking international companies to set up in Brabant and supports companies already established in Brabant to expand their presence abroad. BOM strives to foster economic growth, increase employment opportunities, present solutions to social problems and ensure Brabant has a leading role on the world stage. Over the past four years, BOM has worked with over 600 companies to catalyze change and achieve impact. For more information, please visit www.bom.nl