Most of the automakers have shifted their focus onto the production of all-electric and plug-in EVs. This has led to increasing demand for batteries. This is where E-magy comes in. The startup claims to offer a scalable battery material that can provide automakers with a clear competitive edge.
Raises additional funding
In a recent development, the Dutch cleantech company E-magy has secured an additional €5M of funding. It was led by SHIFT Invest – an open-innovation investment platform for companies with the ambition to create sustainability and health impact.
The round also saw participation from existing investor PDENH. Additionally, the Dutch Ministry of Economic Affairs and Climate Policy has also committed an innovation credit to accelerate the development of E-magy’s technology.
What does E-magy provide?
E-magy is a designer and manufacturer of “nano-sponge” silicon material for advanced lithium-ion batteries. According to the company, “Silicon is abundantly available and environmentally benign. With the material, Li-ion batteries’ energy density is increased by 40 per cent. This shortens the charge time of batteries allowing for an extended range at lower costs.”
Casper Peeters (CEO), Bert Kraaijveld (COO), and Axel Schönecker (CTO) are the people behind E-magy. They have applied their more than 20 years of silicon crystallisation experience to solve the challenge of silicon in Li-ion batteries. The team looks to bring sustainable solutions to the battery industry with a focus on providing low-cost solar silicon solutions, manufacturing costs, and enabling large-scale market application. The company works with partners throughout the global automotive supply chain.
Moreover, E-magy’s technology platform can be used in various other devices such as e-bikes and scooters, drones, computers and handheld devices, medical devices, and electric energy storage systems for balancing (renewable) energy supply and demand.
Use of the funds
The raised capital will help E-magy to increase production for its nano-porous silicon, and to accelerate qualification programs with electric vehicle (EV) and battery manufacturers.
Casper Peeters, co-founder of E-magy says, “The additional funding comes at an exciting time as we are scaling up production capacity of our proprietary nano-porous silicon and are advancing with automakers and battery manufacturers to improve battery cell performance. Nano-porous silicon is the solution to the urgent need for high-energy batteries, enabling affordable and efficient electric vehicles for everybody. E-magy is set to power millions of electric vehicles.”
The company will also use the funds to expand the team and make preparations for a new facility in the Netherlands, which will boost annual capacity to thousands of tons per year. E-magy plans to start production at the new facility in 2023.
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