# Echion Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/echion-technologies

- Industry: Energy Storage & Batteries
- Headquarters: Sawston, UK
- Website: www.echiontech.com
- Total disclosed funding: $54M
- Latest round: Series B (Aug 11, 2023)
- Investors on record: 6

## About

Founded in 2017 by co-founders Jean de La Verpilliere, and Alex Groombridge and based in the UK, Echion Technologies Ltd. develops and production of advanced materials niobium-based anodes for lithium-ion batteries.  In August 2023, Echion Technologies Ltd. raised GBP 28.78 million in series B funding led by investor Volta Energy Technologies, with participation from investors Companhia Brasileira de Metalurgia e Mineração, Business Growth Fund, and Cambridge Enterprise. The series B round of financing values Echion Technologies Ltd. at GBP 168.48 million post-money.
 
Echion Technologies' primary product is the XNO, a niobium-based anode material, designed to improve the performance of lithium-ion batteries. The XNO material enables batteries to achieve energy density and ensures a cycle life of more than 10,000 cycles. These products cater to a wide range of heavy-duty applications such as rail, high-power off-road vehicles, high-utilization fleets of trucks, buses, delivery vans, mining equipment, high-performance hybrids, and motorsports. The company supplies XNO anode active material to cell manufacturers. Echion also produces low volumes of demonstrator cells for evaluation by Tier 1 suppliers and original equipment manufacturers (OEMs) before connecting them with their network of cell manufacturers.
 
 The company will use the August 2023 funding to accelerate its service feature innovation and production.

## Funding rounds

- Series B, Aug 11, 2023, $37M — Cambridge Enterprise, BGF Investment Management, Companhia Brasileira de Metalurgia e Mineração, Volta Energy Technologies
- Series A, Aug 19, 2021, $13M — Cambridge Enterprise, BGF Investment Management, Companhia Brasileira de Metalurgia e Mineração, Origin Capital
- Series A, Feb 19, 2020, $2M — Parkwalk Advisors
- Seed, Oct 16, 2018, $2M — Parkwalk Advisors, Origin Capital

## Investors

- Parkwalk Advisors (https://capitalatlas.ai/funds/parkwalk-advisors) — Seed, Series A
- Origin Capital — Seed, Series A
- Cambridge Enterprise — Series A, Series B
- BGF Investment Management (https://capitalatlas.ai/funds/bgf-investment-management) — Series A, Series B
- Companhia Brasileira de Metalurgia e Mineração — Series A, Series B
- Volta Energy Technologies (https://capitalatlas.ai/funds/volta-energy-technologies) — Series B