Celltris, a Bristol based battery start-up, has received a substantial boost towards its mission to eliminate wasted internal space in lithium-ion cells, the rechargeable batteries used in electric vehicles.
The company has announced the closure of a £0.8M combined equity and grant investment round which was led by QantX and supported in partnership with UKRI’s Faraday Battery Challenge, delivered by Innovate UK. The Investor Partnership grant will help to accelerate the development of prismatic cell designs, increasing energy density alongside a significant reduction in cell cost.
To date, Celltris have raised over £1.3m to launch a battery development and cell prototyping centre in central Bristol.
The team at Celltris led by founders Sam Alexander and Ian Hunt have over 2 decades’ experience developing lithium-ion batteries. They are looking to reinvent how cells are assembled, taking advantage of modern manufacturing methods to unlock the next generation of cell designs. By leveraging these new methods, they will significantly increase the energy density and reduce the cost, all in a smaller manufacturing footprint than that used today.
Ian Hunt, Celltris CEO, commented:
“This raise helps us to cement our position as a leading cell design business. It will significantly accelerate the development of our go to market offering and allow us to purchase the equipment required to complete a cell prototyping facility in Bristol.”
Richard Haycock, QantX CEO, commented:
“The critical scale of energy storage demand is such that even small reductions in cell volume can have outsized impact on cost for manufacturers. Celltris are a strong and knowledgeable team and we’re delighted to support them in partnership with Innovate UK as they develop the next generation of cells”.
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Footnotes
About Celltris |Media enquires: [email protected]
Celltris reduces the cost of lithium-ion cells through improved cell design. Working from their development centre in central Bristol, they prototype new cells and components to create world leading cell technology available for license.
The project aims to produce validated and tested prismatic cell prototypes that will enable Celltris to develop the cell assembly techniques and welding processes required to significantly increase the energy density of cells. First prototypes will be produced by May 2024.
Celltris is also installing a cell prototyping facility into its development centre in central Bristol, ready April 2024.
Celltris is looking to collaborate from an early stage with customers to integrate their technology into our cell design platform via designs, process models, and prototyping.
Learn more about Celltris: www.celltris.com
About QantX
QantX is a South West focussed venture capital firm investing in globally impactful innovations across sectors improving outcomes in health and sustainability. QantX are committed to fostering exceptional talent, bold innovation, and transformative solutions.
Learn more about QantX: www.qantx.co.uk
About UK Research and Innovation
UK Research and Innovation (UKRI) is the largest public funder of research and innovation in the UK, with a budget of around £8bn. It is composed of seven disciplinary research councils, Innovate UK and Research England.
We operate across the whole country and work with our many partners in higher education, research organisations, businesses, government, and charities.
Our vision is for an outstanding research and innovation system in the UK that gives everyone the opportunity to contribute and to benefit, enriching lives locally, nationally, and internationally.
Our mission is to convene, catalyse and invest in close collaboration with others to build a thriving, inclusive research and innovation system that connects discovery to prosperity and public good.
Learn more about UKRI: https://www.ukri.org/
About the Faraday Battery Challenge
The Faraday Battery Challenge (FBC), delivered by Innovate UK, is a £610 million UKRI Challenge Fund investment, delivering a mission-led, research and innovation programme that covers “Lab to Factory” development, cutting-edge research, national scale-up infrastructure, and skills and training.
The FBC seeks to address market failures in road transport decarbonisation and to attract investors to the UK’s battery industry. By leveraging scientific strength, with our delivery partners: Faraday Institution, UK Battery Industrialisation Centre (UKBIC) and Innovate UK, we are building an ecosystem that supports industry growth and ensures UK prosperity.
Learn more about FBC: https://www.ukri.org/what-we-do/browse-our-areas-of-investment-and-support/faraday-battery-challenge/
About Investor Partnerships Future Economy
The Investor Partnership Programme is a unique opportunity for high-growth, innovative UK companies to access the funding they need to thrive and succeed. This programme is designed to support micro, small, and medium-sized enterprises (SMEs) that are working on cutting-edge technology in the Innovate UK Future Economy areas of:
● Net Zero
● Healthy Living and Agriculture
● Digital and Technologies
● Equality, Diversity and Inclusion
Innovate UK has and continues to partner with a diverse group of credible investor partners, including venture capital funds, corporate investors, business angel groups, and social impact investors from the UK, Europe, and the US. These investors are committed to supporting innovative companies and providing the financing they need to grow and scale.
Learn more about the Investor Partnerships Future Economy Programme: https://iuk.ktn-uk.org/programme/investor-partnerships-future-economy/
