Echion Technologies has secured a £10 million investment from Barclays Sustainable Impact Capital and existing investor BGF to accelerate the production of its innovative niobium-based XNO® anode material for lithium-ion (Li-ion) batteries. This funding marks a significant step in the company’s mission to revolutionize the electric vehicle (EV) and industrial battery sectors.
Advancing Fast-Charging and Long-Life Battery Technology
Echion’s XNO® anode material is engineered to address key challenges in battery technology. It enables Li-ion batteries to fast-charge in under 10 minutes, maintain high energy densities even in extreme temperatures, and deliver superior power across more than 10,000 charge cycles. These capabilities are crucial for electrifying heavy-duty industrial and commercial vehicles, as well as mass transit systems, by providing a reliable, cost-effective solution for fleets that demand high productivity and low total cost of ownership.
The funding will help Echion scale production of XNO® and expand its network of partnerships with cell manufacturers and original equipment manufacturers (OEMs). With a growing customer base across the globe, the company aims to meet the rising demand for high-performance batteries in industries where electrification is essential, including electric buses, mining trucks, and trains.
Strategic Manufacturing Expansion
Echion has already made significant strides in scaling its operations. In November, the company opened the world’s largest niobium-based anode production facility, which is capable of producing 2,000 tons per year of XNO®, equivalent to 1 GWh of Li-ion cells. This facility, built in partnership with CBMM, the world’s leading producer of niobium, positions Echion to meet the growing demand for XNO® across its global network of cell manufacturers and OEMs.
The company’s cutting-edge XNO® technology is based on proprietary mixed niobium oxide compositions and microparticle designs, which are protected by 13 international patent families. This innovative technology allows the development of batteries that are not only fast-charging but also more durable and safer than traditional options.
Impact on the Heavy-Duty Vehicle Sector
Echion’s technology has the potential to address a critical gap in the electrification of heavy-duty transport, which has faced significant barriers due to performance and affordability challenges. By producing batteries that combine fast charging, high power, and minimal deterioration over time, XNO® offers an economically viable solution for electrifying large fleets of commercial and industrial vehicles.
Jean de La Verpilliere, CEO of Echion Technologies, expressed his gratitude for the investment, highlighting the role of XNO® in accelerating the electrification of heavy-duty vehicles. “The support from Barclays and BGF validates the potential of our technology to transform industries and drive sustainability at scale,” he said. “With their investment, we are poised to take a major step forward in our journey.”
Support from Leading Investors
Barclays and BGF have both shown strong belief in the company’s growth trajectory. Steven Poulter, Head of Principal Structuring and Investments at Barclays, stated that Echion’s technology is “unlocking a long-awaited, economically viable means of decarbonising heavy-duty vehicles by electrification.” Similarly, Dennis Atkinson of BGF expressed confidence that Echion’s approach is perfectly aligned with their commitment to sustainability, noting that the company’s innovative battery technology will be key to decarbonizing the heavy transport sector.
The £10 million funding is part of a broader strategy by both investors to support companies that are driving sustainability and innovation in critical industries. Echion’s continued growth and technological advancements are expected to have far-reaching impacts on the future of electrified transportation and energy storage solutions.
Looking Ahead
With its cutting-edge technology and new financial backing, Echion is well-positioned to play a pivotal role in the global transition to sustainable energy. As it expands its manufacturing capabilities and strengthens partnerships with key industry players, the company is set to help accelerate the electrification of heavy-duty vehicles and other high-value applications, marking a significant step in reducing global carbon emissions and improving energy efficiency across various sectors.
