TaiSan Raises £4.65 Mn in Round co-led by Eos Advisory

The funding round was co-led by Eos Advisory and the Midlands Engine Investment Fund II, managed by Mercia Ventures.

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Other investors included AFI Ventures, EverQuest Capital Partners, Adeline Arts & Science, Techmind, angel investor François Badelon, InnoEnergy, TSP Ventures, Exergon, and Heartfelt. Out of the total funding, £700,000 came from Innovate UK through its Investor Partnerships Programme, which matched part of the private investment.

TaiSan will use the new funding to improve its battery technology and start pilot projects with leading manufacturers. The company has also signed several letters of intent with potential customers, showing strong interest in its technology.

Lithium, which is widely used in today's batteries, is becoming more expensive and harder to source. Sodium is much more common and could be a good alternative. However, traditional sodium-ion batteries have been large and heavy, so they have mostly been used for stationary energy storage.

TaiSan has developed a new battery technology that is lighter and more compact than existing sodium-ion and lithium-ion batteries. This makes it suitable for many applications, including electric vehicles and power tools. The batteries also use the company's own solid-state electrolyte, which is safer than the flammable liquid electrolytes used in many conventional batteries.

TaiSan was founded by Sanzhar Taizhan, who previously worked as a research electrochemist at Jaguar Land Rover and The Faraday Institution.

Sanzhar was born in Kazakhstan, where he was a local chess champion. At the age of 18, he moved to the UK to study engineering.

While studying, he started and led a team that reached the finals of the international Hyperloop competition for three years in a row. The competition was organized by SpaceX and The Boring Company, and his team was the first from England to achieve this.