Echion announces major investment from Volta Energy
According to Echion, the investment will enable the company’s efforts to meet growing customer demand in North America, South Korea, China, and the wider Asia-Pacific region.
The investment in Echion is Volta’s first such move into a European headquartered company, as the organisation extends and expands its investments within the larger European battery and energy technology ecosystem. Further, Volta will leverage these relationships as well as its deep US network to support Echion to accelerate the commercialisation of its ultra-fast charging, long-cycle life XNO anode material
“We are very pleased to see the traction that XNO is gathering worldwide in the battery industry, and are confident that Volta’s backing and outstanding reputation in the battery industry will help further accelerate our commercial deployment. We are now on the cusp of reaching mainstream market at scale, and Volta’s investment is a great validation of the work accomplished to date,” said Jean de La Verpilliere, Co-founder and CEO of Echion Technologies. He added: “We look forward to benefiting from their technical, commercial, and corporate insights as we grow further. Together with our manufacturing partnership with CBMM, this investment will enable us to widen and accelerate the adoption of XNO in our target markets, enabling our customers to produce safer, faster-charging, and longer-life batteries.”
In May last year, Echion signed a supply deal with Morrow Batteries to deliver anode materials for the company. The multi-year supply agreement also includes the option to expand the delivery capacity over the next five years. Just a few weeks before, Morrow Batteries had also entered into a memorandum of understanding with IBU-Tec Advanced Materials to supply LFP cathode material for a pilot plant of up to 200 tonnes annually.