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Australian battery tech startup targets US market with fresh funds – pv magazine International

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Sicona Battery Applied sciences, an Australian battery supplies startup, has secured monetary help from worldwide traders to develop silicon-composite anode know-how for lithium-ion batteries, permitting it to speed up business plans to develop it within the US market.

From pv journal Australia

Traders led by Indian chemical conglomerate Himadri Specialty Chemical and Australian enterprise capital agency Artesian have invested AUD 22 million ($14.9 million) in Sicona Battery Applied sciences to help the corporate’s work with battery density-boosting know-how.

The Collection A funding spherical was led by Kolkata-based Himadri, Artesian, and Electrification & Decarbonization AIE LP, a fund managed by Canada-based Waratah Capital Advisers. New York-headquartered Riverstone Ventures, Chaos Ventures, Investible Local weather Tech Fund LP and Membership Investible additionally participated within the funding spherical.

Sicona is working to commercialize high-capacity silicon anode know-how, which has been flagged as a attainable game-changer for lithium-ion (Li-ion) batteries that dominate electrical automobiles and renewable vitality storage market.

Sicona Chief Government Officer Christiaan Jordaan mentioned the corporate’s silicon-composite anode know-how delivers 50% to 100% extra capability than typical graphite anodes and its anode supplies present greater cell vitality density. than present Li-ion batteries.

“Sicona’s core product is a brand new silicon metal-based silicon-composite battery anode know-how that allows greater than a 50% improve in vitality density over present Li-ion batteries,” he mentioned. “Through the use of silicon metallic, and never costly, stopping the provision chain and harmful silane fuel like our rivals, Sicona can supply low-cost silicon anode supplies on a big scale within the automotive business regionally in large market.”

Jordaan mentioned the newest spherical of funding will allow Sicona, primarily based in Wollongong close to Sydney, to advance its aim of constructing a battery element manufacturing facility in america. The demand for anode supplies within the nation is predicted to exceed 1,200 GWh by 2030.

“As a result of nice curiosity in our supplies from North American automotive corporations, we’re focusing our efforts on constructing Sicona’s first commercial-scale manufacturing plant within the US,” Jordann mentioned, noting that the help of Himadri “permits us to speed up our mission of changing into a serious producer of cost-effective silicon composite anode supplies.

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