Battery supplies startup Sicona Battery Applied sciences has raised AU$22 million in a Collection A for its plans in Australia and the US.
The spherical was led by India’s Himadri Speciality Chemical Ltd, Australian VC Artesian, and Electrification & Decarbonization AIE LP, a fund managed by Waratah Capital, alongside backers together with Riverstone Ventures, Chaos Ventures, Investible Local weather Tech Fund LP and Membership Investible by means of its Local weather Tech fund.
Entrepreneur Christiaan Jordaan and supplies scientist Andrew Minett based Sicona in 2019, getting down to develop next-generation battery expertise utilized in
the anodes (unfavorable electrodes) of lithium-ion batteries used for electrical automobiles and renewables storage.
They’re ben commercialising silicon-graphite composite expertise and supplies researchers on the College of Wollongong’s Australian Institute for Progressive Supplies for greater than a decade. The startup beforehand raised $3.7 million in a pre-Collection A in August 2021, led by Riverstone and Artesian.
Sicona’s present era silicon-composite anode expertise provides 50-100% larger capability than standard graphite anodes.
“Sicona’s core product is an progressive silicon steel primarily based silicon-composite battery anode expertise enabling greater than 50% improve in power density of current Li-ion batteries,” Jordaan, Sicona’s CEO, stated.
“By utilizing silicon steel (and never costly, provide chain constrained and harmful silane fuel like our rivals) Sicona can provide low-cost silicon anode supplies at massive automotive scale domestically in main markets.”
The Wollongong-based startup is now seeking to construct a silicon-carbon manufacturing plant within the south japanese United States to serve that market.
Jordaan stated the contemporary capital will present important development capability within the US over the subsequent 12 months.
“Welcoming one of many main international speciality chemical firms as a strategic investor in our Collection A spherical permits us to speed up our mission of changing into a serious producer of cost-effective silicon composite anode supplies,” he stated.
“Our silicon metal-based expertise decouples us from the main bottlenecks and price implications of silane gas-based applied sciences and gives our clients the arrogance that we are able to ship a silicon-carbon anode materials at a capital depth and $/kg worth which is possible for mass-automotive market adoption.”
