[Funding alert] Dutch-based Deep Tech Startup CarbonX Secures €10Million in Funding

Thursday 8, 2024 | By Startup Rise EU

Dutch-based deep tech startup CarbonX secures €10million in funding. Innovation Industries, InnovationQuarter, and Borski Fund co-led this investment round.

Dutch-based deep tech startup CarbonX secures €10million in funding. Innovation Industries, InnovationQuarter, and Borski Fund co-led this investment round.

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The money will be used by the Dutch business to further boost its commercial development. The TU Delft Spin-Off will also be able to expand its commercial structure, enhance production capacity to enable high-volume applications, and further enhance its unique material thanks to the funding investment.

CarbonX CEO Rutger van Raalten says, “In the wake of export curbs imposed by China earlier last month, we see an increasing need for localised supply chains. With CarbonX technology, we enable the EU and US to source raw materials independently. Not only at a lower cost per kWh, but also with a reduced carbon footprint which becomes increasingly more important for the battery value chain.”

CarbonX, a TU Delft spin-off founded in 2014 by Rutger Van Raalten and Daniela Sordi, intends to address the growing demand for a local supply of vital raw materials for the battery sector. The Dutch business makes it possible for EV OEMs and cell makers to access essential anode materials in large quantities locally thanks to its patented feedstock method.

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The company says that because its feedstock technique uses less energy than natural or synthetic graphite, it can produce graphite at a lower cost and with a smaller carbon footprint.

Daniela Sordi, CTO of CarbonX, explains “Our feedstock technology seamlessly integrates into existing carbon black manufacturing plants resulting in the production of a novel structured carbon material that functions as an active anode material, like graphite. CarbonX’s unique 3D porous network structure improves electron- and lithium-ion transfer, while it is still highly compressible to achieve outstanding battery performance. Moreover, we’re already developing fast-charge and high energy density grades in collaboration with the industry.”

Over €500M in money is managed by the Dutch deep-tech venture capital firm Innovation Industries. Innovation Industries focuses on deep-tech businesses that can solve global issues while investing in industrial, medical, and agricultural and food technologies.

Read also - Cosmic Aerospace Secures $4.5 Million in a Seed Round Funding

Bertrand van Leersum; investment director of Borski Fund said, “The deep material knowledge of both founders and R&D facilities headed by Daniela is a unique asset to the company. The drop-in solution and proven large-scale manufacturing enable CarbonX to scale fast. It’s all about timing. Rutger and Daniela maintained contact for several years; in 2023 we recognized CarbonX’s outstanding progress on battery performance, the imminent shortage of graphite, and the need for near-shoring supply chains,”.

About CORBONX

CORBONX, they create localised supply chains by generating in carbon black facilities worldwide in order to combat graphite shortages. The 2D constraints of graphite in batteries can be addressed by CarbonX's 3D network structure, improving battery performance. Their low-energy production method guarantees lower CO2 emissions.

Read also - Austria-based Atlas Secures $4.5Million in Funding

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