Echion in Volta investment boost, formalizes InoBat anode R&D plan

Echion in Volta investment boost, formalizes InoBat anode R&D plan

Echion in Volta investment boost, formalizes InoBat anode R&D plan 1024 768 Energy Storage Journal

September 14, 2023: Echion Technologies said on September 6 it would accelerate the scale-up and commercialization of its niobium-based XNO anode material thanks to a significant, undisclosed investment from Volta Energy Technologies.

Echion co-founder and CEO Jean de La Verpilliere said the boost from US-based investor Volta came as Echion was “on the cusp of reaching mainstream market at scale”.

According to Echion, XNO offers long cycle life, superfast charging capability and increased safety in lithium ion batteries for use in heavy duty industrial and grid storage applications.

The company said it has a manufacturing partnership with Brazil-based niobium miner CBMM for a 2,000 tonne per year XNO supply capacity by 2024.

Separately, on September 12, Echion said it had formalized a collaboration agreement with Slovakian EV batteries firm InoBat.

The partners signed a memorandum of understanding to study how XNO anode material could boost performance of InoBat’s products.

Under the agreement, Echion guarantees supply of XNO and access to its electrochemistry for InoBat’s cell design.

InoBat said it is about to start R&D into using XNO, which it claims could lead to lithium ion batteries that deliver high power across a cycle life of more than 10,000 cycles.

In July 2022, InoBat said it had signed a battery cells development and supply agreement with Polish gigafactory developer Impact Clean Power.

Energy Storage Journal reported in May that Echion had agreed a niobium-based anode material supply deal with Taiwan-based GUS Technology —a specialist in lithium ion batteries, pouch cells and energy storage systems.