Nyobolt revolutionizes electric vehicle battery performance

Nyobolt, a startup funded by Masan High-Tech Materials, has outperformed numerous outstanding applicants to advance to the final round of the Financial Times (FT)’s “Tech Champions” contest.

It was selected as a finalist due to its cutting-edge technology in the use of tungsten in lithium-ion batteries, which allows for faster charging and extended battery life. The company is recognized as the pioneer in the development of ultrafast-charging tungsten-based battery technology.

The FT’s “Tech Champions” contest identifies European companies that have used technology to pivot their business to new ways of working. More than 300 applications were received from across multiple sectors tackling energy shortages, economic sanctions, and broken supply chains as a result of the political turmoil in Eastern Europe and the aftermath of the Covid-19 pandemic.

The FT judging panel will review and select the winners in multiple categories, including Banking & Payments, Markets & Financial Services, Shipping & Transport, Manufacturing, Professional Services, Retail, Energy, IT & Cybersecurity, Media, and Healthcare. The ten winners will be announced on November 21.

This is a significant stepping stone for Nyobolt after receiving investment of GBP45 million ($53.3 million) in July 2022 from H.C. Starck Tungsten Powders (HCS) - a subsidiary of Masan High-Tech Materials. The funding from HCS has helped Nyobolt scale up its operations in the UK and the US to focus on the development of next-generation tungsten batteries.

Nyobolt’s technology employs HCS’s advanced tungsten materials in the battery anode coating to produce batteries of superior quality. With record-high power density and ultrafast charging speed, this new-generation battery will compensate for the shortcomings of conventional batteries such as hyper-sensitivity, thermal stress, and exorbitant cost.

Its tests have shown that tungsten-based lithium-ion batteries are ten-times more efficient than conventional batteries of the same size, with 90 per cent charged in less than five minutes. With up to ten-times higher power density, the battery has longer durability and saves on the cost of battery usage. In particular, its technology helps reduce the risk of fire and explosion, thus increasing safety for end-users.

Nyobolt’s use of HCS’s advanced tungsten materials in li-ion batteries is seen as a breakthrough technology that is predicted to transform the battery industry in the near future. When commercializing this new battery product range, Nyobolt and HCS will demonstrate their foresight in developing a clean energy ecosystem.

Mr. Danny Le, Chairman of Masan High-Tech Materials, said the company aims to move further downstream and become a global consumer-tech business, addressing the unmet needs of key industries around the world.

The investment in Nyobolt demonstrates Masan’s strong commitment to continue developing efficient and safe products that serve consumer needs. In addition to funding for Nyobolt to soon commercialize tungsten-based batteries, Masan High-Tech Materials will also continue to focus on recycling raw materials, implementing carbon-neutral initiatives, and promoting the development of the circular economy. “Our ultimate goal is to achieve long-term sustainability,” Mr. Le said. “To that end, we are working to accelerate the development of a circular economy for batteries via enhanced recycling and innovative models of use.”

He added that Masan High-Tech Materials and HCS are now putting all efforts into the research and development of the Tungsten Scrap Recycling Plant, with the ambition of turning Vietnam into the region’s leading technology center for recycling tungsten and precious metals, thereby reducing reliance on primary raw materials from mining activities.

“By 2027, Masan will not only be the world’s leading supplier of high-tech materials but also an innovation leader in global consumer technology products, with highly-efficient rechargeable li-ion battery being the first-to-market,” he said.