Nyobolt raises $30m for AI datacentre power
UK battery materials developer Nyobolt has raised $30m to provide expand its heavy duty power from electric vehicles to AI datacentres.
The round was led by IQ Capital and Latitude, the sister fund of LocalGlobe, with strategic partners including Scania Invest and Takasago Industry and brings the total raised to $100m.
This will accelerate the advancement of Nyobolt’s proprietary Niobium and tungsten-based oxide battery anode technology to move into AI datacentre backup power systems as well as EV, electric trucks and industrial robots.
The technology can provide up to 20x more power than traditional lithium ion cells with a 20C charging rate to charge in minutes and cut downtime for even the most power-intensive applications. The tungsten is sourced from Germany and the niobium from Brazil, avoiding the issues of sourcing cobalt and nickel for NMC cells.
The company closed 2024 with $9 million in revenue and says it has a pipeline of $150 million.
“The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands,” said Sai Shivareddy, Co-Founder and CEO of Nyobolt.
“Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast charge solutions when they need them the most. I’m delighted to have the confidence of our customers and investors as we further strengthen our mission to push the boundaries of ultra-high-power solutions.”
Max Bautin, Co-Founder and Managing Partner at IQ Capital, said: “Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business. In just a few short years they have become the go-to provider of high-power density solutions for AI warehouse operations and heavy-duty vehicles. Now with the advent of the AI revolution, they are in prime position to become the backbone of critical AI infrastructure. We’re continuing to support Sai and the Nyobolt team as they take on this ambitious challenge not just as a company but the whole energy sector.”
“As power grids strain under AI’s explosive demand, Nyobolt is the only company turning deeptech into deep impact fast,” said Ash Arora, Partner at Latitude.
Jessica Persson, Head of Venture Capital and M&A at Scania, said: “At Scania, we invest in companies that support the shift towards a more sustainable transport system. That’s why we’re excited to announce our investment in Nyobolt, a pioneer in high-power, fast-charging solutions. Their breakthrough anode technology enables ultra-fast charging and longer-lasting batteries—critical advancements for the electrification of heavy-duty transport, industrial applications, and AI-powered infrastructure.”
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