Anaphite, a battery technology firm in Bristol, has secured £10.4m to advance its innovative electric vehicle solutions.
- The funding round was led by notable investors, including World Fund and Maniv, with participation from other climate-focused entities.
- Anaphite aims to use the funds to scale operations and develop a new plant to enhance their production capabilities.
- The company’s proprietary technology promises to reduce costs and energy consumption in battery manufacturing, offering significant industry advancements.
- Founders Sam Burrow and Alexander Hewitt continue to drive Anaphite’s growth and innovation since its inception as a university project.
Anaphite, a Bristol-based battery technology company, has successfully raised £10.4 million in a Series A funding round, enhancing its capability to innovate within the electric vehicle sector. This funding marks a significant step for Anaphite, as it seeks to make electric battery production more economical and less energy-intensive, which aligns with the broader industry’s pursuit of efficiency and sustainability.
The funding round saw significant backing from World Fund, a European climate-focused venture capitalist, and Maniv, a global early-stage venture capital firm. Additional participation from climate-conscious investors, including EEI and Nesta, further highlights the growing interest in sustainable technology solutions. Elbow Beach Capital and Wealth Club, existing investors, also reinforced their support, signalling confidence in Anaphite’s strategic direction.
With this financial injection, Anaphite plans to upscale its operations. This includes commissioning a new plant designed to improve production efficiencies and meet increasing demand. Additionally, the funds will facilitate job creation and bolster research and development efforts, enabling the expansion of its technology portfolio to better serve the evolving market needs.
Chief Operating Officer Alexander Hewitt expressed enthusiasm for the potential impact of their technology on the industry, emphasising its capability to transform electrode production processes. The founding duo’s journey, from their first patent filing in 2018 to securing initial seed funding and developing their technology, underscores their commitment to industry transformation.
Anaphite’s technological application extends to lithium-ion battery cell electrodes, validated through feasibility trials with the University of Warwick. The company’s progress in securing further funding and leadership appointments reflects its robust growth trajectory. The recent investment from Innovate UK’s Future Economy programme and private investors underscores the potential seen in Anaphite’s innovative solutions.
Anaphite’s latest funding success positions it well to revolutionise the battery manufacturing industry with cost-effective and energy-efficient technologies.
