Electric vehicle battery production technology startup Anaphite announced today that it has raised $13.7 million in a Series A financing round, with proceeds aimed at scaling the company’s solution to reduce the cost and carbon footprint of EV battery manufacturing.

Founded in 2018 by chemist Sam Burrow (CTO) and physicist Alexander Hewitt (COO), UK-based Anaphite offers a solution enabling the EV industry to move to “dry” processes, removing the need for cathode drying ovens, and reducing energy requirements for electrode manufacturing by up to 90%, significantly reducing the carbon footprint of battery manufacturing. The company utilizes a unique chemical compositing process to deliver a “precursor powder,” ensuring reliable dry coating for high speed, high performance electrode production, without compromising battery performance.

According to Anaphite, its solution has the potential to reduce battery manufacturing production cost by 40% and carbon intensity by 30%, and it is actively working with battery cell manufacturers and car OEMs to implement the technology.

Burrow said:

“Our unique approach and technology portfolio give the EV supply chain the flexibility it needs, removing many barriers to high-yield manufacturing and battery design. It’s exciting to be applying chemistry to such a meaningful manufacturing challenge.”

Anaphite said that the new capital enable the company to scale up and expansion of its dry coating capabilities, and to fully commission a plant with the capacity to deliver tonnes of its composite cathode material, in addition to supporting new hiring and R&D investment.

Hewitt said:

“This funding will help Anaphite scale up and become a partner of choice for the global market. Li-ion battery electrodes have been produced at scale the same way for decades, and with the advent of the sustainable energy revolution, there is an acute hunger for change and improvement in the industry.”

The funding round was led by climate tech VC World Fund and sustainable mobility-focused early stage investor Maniv, with participation from existing investors Elbow Beach Capital and Wealth Club, and new investors including EEI and Nesta.

Michael Granoff, Founding Partner at Maniv, said:

“While the cost of batteries has declined precipitously over the last two decades, the raw materials, supply chains, and assembly have all become anomalously concentrated in a single country, China. We are confident that Anaphite’s proprietary technology finally moves the needle towards a more distributed and resilient battery supply chain, helping Western battery companies and automakers compete in the decades ahead.”