NAWA raises €18m for carbon nanotube ultracapacitor factory
The Series C round for NAWA was led by led by Kouros with Bpifrance through the Ecotechnologies fund of the PIA, Demeter, Supernova Invest, Région Sud Investissement, Eurowatt Capital and OPUS. Altya Invest joined the pool of historic shareholders of NAWA.
The funding will be used to build the first NAWACap factory, which is expected to manufacture ultracapacitors from 2023 onwards. Headquartered in Aix-en-Provence, France, where its pilot line is based, and with a second location in Dayton, Ohio, NAWA plans to manufacture in Europe and the US.
NAWACap is a new generation of ultracapacitor with an electrode made of Vertically Aligned Carbon Nanotubes (VACNT) and provides higher performance than ultracapacitors using other materials.
The first target markets for NAWACap product are power tools and sensor-based IoT systems, where high power, maintenance-free, long lifetime energy storage helps designers. NAWA is also looking at the automotive industry in hybrid and electric vehicles (BEVs) and fuel cell vehicles (FCEVs) where NAWACap can, for example, rapidly store (and deploy) energy from regenerative braking systems, greatly increasing energy efficiency.
“With this new milestone, NAWA is entering the energy storage “Champions League”. The funds will give the NAWA team the opportunity to stay in pole position for VACNT electrodes technology applications, ramp-up series production of ultracapacitors and accelerate development work on lithium-ion battery cell technology,” said Reinhardt Peper, Chairman of the Board of NAWA Technologies. “I would like to thank the unwavering support of NAWA’s investors, welcome NAWA’s new investor Altya and acknowledge the strong motivation of NAWA’s employees and the trust of NAWA’s industrial and collaborative partners.”
Ulrik Grape, CEO of NAWA Technologies, said: “The global market for clean, efficient energy storage technologies is increasing exponentially in the coming years and thanks to the confidence of our new investor, and the strong backing of our existing investors, NAWA is ideally positioned to realize the potential of our technology. It validates our innovations and enables NAWA to launch into large scale manufacturing of our NAWACap ultracapacitors.”
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