back to top
Saturday, July 13, 2024

Dutch startup LionVolt secures €15 million funding to propel solid-state battery innovation

Dutch startup LionVolt secures €15 million funding to propel solid-state battery innovation, aiming for faster and safer energy solutions.

Published:

Published:

Trending Stories

- Advertisement -

As the global transition towards electrification gains momentum, the demand for advanced batteries that offer enhanced performance, safety, and sustainability has become increasingly pronounced. Stepping up to the challenge, Dutch startup LionVolt has secured a significant €15 million in funding to accelerate the production and development of its pioneering 3D solid-state batteries.

Revolutionary battery technology

Originating from TNO's Holst Centre in Eindhoven, Netherlands, LionVolt is at the forefront of revolutionizing battery technology. The company's solid-state batteries deviate from the conventional lithium-ion paradigm by eliminating the liquid lithium component. Instead, LionVolt's batteries feature a groundbreaking thin film comprising billions of solid pillars, resulting in a patented 3D architecture with an expansive surface area. This unique design significantly reduces ion travel distance, leading to faster charging and discharging rates. Moreover, using solid materials mitigates the risk of fire or explosion, a common concern associated with liquid lithium batteries.

Unprecedented performance metrics

According to LionVolt's CEO and co-founder, Karl McGoldrick, the innovative battery design enables an unparalleled energy density of 450 Wh/kg, far surpassing conventional lithium batteries. Tesla's current cells offer between 244 and 296 Wh/kg for comparison. LionVolt asserts that its batteries are not only 50% lighter but also deliver 200% better performance than the most advanced lithium-ion batteries available today. While the current applications include , LionVolt aims to establish a gigafactory in Eindhoven to cater to the burgeoning electric vehicle (EV) market.

Dutch startup LionVolt secures €15 million funding to propel solid-state battery innovation - 2

Strategic expansion and acquisition

Buoyed by the infusion of fresh equity , LionVolt is poised for accelerated growth. The recent acquisition of AMTE Power, a Scottish battery cell manufacturer, further strengthens LionVolt's foothold in the industry. By repurposing AMTE Power's facilities in Thurso, Scotland, LionVolt aims to upscale its production of solid-state battery technology, leveraging the acquired expertise to expedite time-to-market.

Sandeep Unnikrishnan, LionVolt's Chief Technology Officer, describes the acquisition as a “dream scenario” for a deep tech company like theirs, facilitating the rapid advancement of their innovative 3D battery technology.

Driving European innovation

LionVolt's recent achievements signify a significant stride in Europe's quest to bolster its position in the global battery market. With the European Union (EU) prioritizing domestic EV and battery production, initiatives such as LionVolt's are pivotal. By investing in novel technologies and fostering the growth of innovative startups, Europe aims to reduce its reliance on battery imports from countries like China and secure a competitive edge in the burgeoning electric vehicle industry.

As McGoldrick emphasizes, Europe's willingness to embrace risk and invest in groundbreaking technologies is imperative for its future competitiveness. Failure to do so could result in Europe ceding its leadership in the battery market to other global players.

Tech Edition has partnerships that involve sponsored content. While this financial support helps us with daily operations, it doesn't affect the integrity of our reviews. We remain committed to delivering honest and insightful content to our readers.

Tech Edition is now on Telegram! Join our channel here and catch all the latest tech news!



Gabriela Gavrailova
Gabriela Gavrailova
Gabriela is a freelance news editor at Tech Edition, where she writes about technology and often does listicles and product reviews. Based in Austria, Gabriela is a person with many and diverse hobbies. If you don't find her reading a book at home or baking something, she will probably be out hiking or taking some classes to learn a new skill.

Featured Content

Netgear Orbi 970 Series review: Revolutionising home WiFi with unmatched coverage

Read our comprehensive review of the Netgear Orbi 970 Series to discover how it transforms home WiFi with advanced features like WiFi 7, Quad-Band technology, and unparalleled coverage.

Related Stories