News / Tech
‘Student passion project’ attracts multimillion dollar funding boost
The tech entrepreneurs Sam Burrows and Alexander Hewitt first met as students at the University of Bristol where they laid the foundations for a tech startup which they branded a “student passion project”.
Anaphite which was founded in 2018 has quickly gathered traction and tapped into a burgeoning Electrical Vehicle (EV) battery industry.
In a fresh round of funding, the St Philip’s Marsh-based startup has raised $13.7 million (£10.4 million), co-led by World Fund, a European climate venture capital and Maniv, a global early-stage venture capital investing in the decarbonisation of transportation and digitisation of its value chains.
The chemist Sam Burrow and physicist Alexander Hewitt developed a patented technology involving dry-coated electrodes which is set to be 30 per cent less carbon intensive and 40 per cent cheaper.
The patented technology by Anaphite involving dry-coated electrodes is set to be 30 per cent less carbon intensive and 40 per cent cheaper
Anaphite is already working with several global car and battery cell manufacturers. The new technology promises a breakthrough in the battery sector, as its delivery worldwide will help reduce the cost of EVs for consumers, enabling a global adoption of EVs and the transition to “an eco-mobility future”.
Sam Burrow, co-founder and chief of technology at Anaphite, said: “There are two key steps in the production of a dry coated cathode. A mixing step, followed by a coating step. One of the major unsolved challenges in the successful commercialisation of dry coated cathodes is the mixing step.
“We’ve applied advanced physical chemistry to this materials handling problem, and we’ve achieved things the industry has previously thought impossible. Our unique approach and technology portfolio give the EV supply chain the flexibility it needs, removing many barriers to high-yield manufacturing and battery design. It’s exciting to be applying chemistry to such a meaningful manufacturing challenge.”
The duo initially worked on developing methods of homogeneously incorporating graphene into metal oxide composites, and soon identified lithium-ion batteries as an ideal application for their technology. In 2018, they filed for their first patent, raised £60,000 in pre-seed funding and moved into an incubator lab, at Science Creates on Albert Road in St Philip’s.
The current funding boost comes after another successful round of funding early this year from the government-backed Investor Partnership Future Economy programme and private sector investments which amounted to £1.6m.
Sam Burrows and Alexander Hewitt first met as students at the University of Bristol where they laid the foundations for a tech startup which they branded a “student passion project”
Alexander Hewitt, co-founder and chief of operation at Anaphite, said: “This funding will help Anaphite scale up and become a partner of choice for the global market. Li-ion battery electrodes have been produced at scale the same way for decades, and with the advent of the sustainable energy revolution, there is an acute hunger for change and improvement in the industry.
“Our technology has the power to revolutionise the electrode production process while lowering costs and emissions for EV and cell manufacturers, and we can’t wait to see it in action.”
Craig Douglas, partner at World Fund, said: “Anaphite’s unique technology and smart, tenacious, market-savvy team are set to disrupt the global EV market. Their technology is genuinely market-leading, and will help the world transition to an eco-mobility future.
Historically, electrode manufacturing was considered both challenging and expensive, representing a major cost driver in modern battery production. Anaphite’s chemical compositing process is set to deliver a solution in “precursor powder” that ensures reliable dry coating for high speed, high performance electrode production.
The new technology promises a breakthrough in the battery sector, as its delivery worldwide will help reduce the cost of EVs for consumers
Joe Stevenson, chief executive at Anaphite welcomed the funding round and called it a “validation of the company. He said: “Securing capital from investors that are renowned specialists in mobility, energy, and environmental investment around the world, is a huge validation moment for Anaphite, and affords us the resources to extend our technical lead in the market.
All photos: Anaphite
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