Dutch advanced materials company E-magy has raised €20.5 million in funding to prepare for industrial-scale production and meet the growing demand for high-energy batteries from battery manufacturers and automotive OEMs.
E-magy’s investors include leading industrial business Hydro, impact investor Invest-NL, venture capital firm Rubio, as well as existing impact investors SHIFT Invest and PDENH.
E-magy has created a new kind of silicon material with a nanoscale porous structure that prevents batteries from swelling and breaking completely by containing the swelling within the nanopores.
This revolutionary silicon-dominant anode material delivers 40% higher energy density and enables faster charging than existing graphite solutions. The company’s technology is easily scalable because it uses low-cost metallurgical-grade silicon that is abundantly available and environmentally benign.
E-magy’s silicon is also compatible with existing lithium-ion battery manufacturing processes and installed factory equipment, making it a low-risk and easy-to-adopt solution.
The most common lithium-ion batteries currently found in electric vehicles (EVs) feature graphite as the active anode material. Yet, graphite’s physical and chemical properties limit battery storage capacity.
Silicon has long been recognized as a promising alternative anode material, given its wide availability and increased capacity, which is ten times that of graphite. However, silicon-dominant batteries typically swell and break when charged and discharged, frustrating battery manufacturers.
E-magy’s solution overcomes this problem, making it an exciting development in the field of electric vehicle technology.
E-magy CEO Casper Peeters said that the funds would help the company transition from its current pilot facility to a higher capacity, next-generation production line, ensuring that it has the necessary capacity to meet growing market demand for higher energy density batteries. He added that the company would also be able to grow its engineering team, bringing in more battery scientists and application engineers to support customers in achieving the best results with their advanced materials.
Hydro, one of E-magy’s investors, aims to industrialize and scale sustainable battery materials by working with partners and leveraging its capabilities. Morten Halleraker, Head of Batteries at Hydro, said that E-magy is a technology company with a promising product looking to improve battery performance significantly. Developing new battery technologies and materials will boost the green energy transition, and silicon anodes will play an important role in this development.
E-magy’s innovative material emits up to six times less carbon dioxide during production, making it an eco-friendly option
Invest-NL’s Investment Associate Bram Sprangers said that speeding up the transition towards a carbon-neutral economy is at the core of their investment strategy. The investment in E-magy is the next example of their strong commitment to supporting exciting technology and strong research and development-driven scale-ups. Together with a fantastic group of like-minded co-investors, they look forward to supporting E-magy’s international team of battery specialists on its clean e-mobility journey.
E-magy’s innovative material emits up to six times less carbon dioxide during production, making it an eco-friendly option. It will enable the battery of an electric vehicle to be lighter and smaller, reducing the car’s weight, energy usage, and emissions associated with energy production to charge the car. This innovation driving impact is what excites Rubio Impact Ventures’ Managing Partner, Helmer Schukken.
SHIFT Invest and PDENH, two of E-magy’s existing impact investors, expressed their excitement and pride in supporting the company’s scale-up journey. Bram Ledeboer, Partner at SHIFT Invest, said that E-magy is well on its way to commercializing its impactful technology. Anthony Viellevoije, Investment Director at PDENH, added that the company continuously hits its technology development milestones and the necessary proof points for scaling. The significant funding round and onboarding of a distinguished consortium of high-value investors are proof of E-magy’s success.