Nanomaterial startup raises $3m

Nanomaterial startup raises $3m

Business news |
By Nick Flaherty

Battery nanomaterial startup Nanom in Reykjavik, Iceland, has raised $3m in seed funding for its process technology.

The company has developed a process for easily creating nanoparticles for batteries and expects to announce its partners in the next few months.

The nanomaterial process technology has provided a 9x improvement for the Nickel-Iron batteries used in large-scale energy storage devices. “Imagine that the devices in your life had a 9X longer battery life, and better recharge speeds – all while being totally green for the environment. Now imagine your car’s EV battery the same way – that you can drive it on a single charge across the entire United States. Even a wall in your house becoming a giant, safe battery that takes you off the grid. We can enable all of that today and in a way that is green for the planet and better than the current-generation of batteries on the market,” said Armann Kojic, CEO of Nanom.

The potential boost for lithium ion batteries is even higher and Kojic says he is talking to a wide range of transportation, stationary storage and battery companies about adopting the company’s nanoparticles into their own proprietary designs.

The nanomaterial technology can also be used to create solid state batteries with carbon fibre and a silk interposer treated with an electrolyte. This can be used to create batteries in the structure of electric vehicles such as cars and boats. The company has already created a pilot project where an 1m electric boat was constructed where the hull of the boat became the battery.

The nanoparticle process generates particles that are many orders-of-magnitude more effective in increasing energy surface in existing batteries by mixing them into the slurry that is a standard part of all battery manufacturing lines. Nanom has achieved scale in its manufacturing process and can already satisfy the requirements of battery markets which is a key challenge for nanoparticle production.

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