CarbonX, a leading Dutch deep-tech startup, has successfully raised €10M in a fresh funding round to address the critical graphite shortage affecting the battery industry. The round was co-led by Innovation Industries, InnovationQuarter, and Borski Fund, positioning CarbonX to accelerate its commercial growth and expand its innovative material solutions.
In response to export curbs imposed by China, CarbonX’s technology offers a promising solution for the EU and US to source raw materials independently, not only at a lower cost per kWh but also with a significantly reduced carbon footprint. This development is crucial for the battery value chain, aiming to ensure a more sustainable and cost-effective supply of critical anode materials.
Revolutionizing Battery Manufacturing with Proprietary Technology
Founded in 2014 as a TU Delft spin-off by Rutger Van Raalten and Daniela Sordi, CarbonX is set to revolutionize the battery manufacturing industry. The company’s proprietary feedstock technology enables cell manufacturers and EV OEMs to source critical anode materials locally in high volumes, offering a sustainable alternative to synthetic or natural graphite.
Enhancing Battery Performance with Novel Material
CarbonX’s unique 3D porous network structure improves electron- and lithium-ion transfer, significantly enhancing battery performance. The company’s technology seamlessly integrates into existing carbon black manufacturing plants, producing a novel structured carbon material that functions as an active anode material. CarbonX is also developing fast-charge and high energy density grades in collaboration with the industry.
Strategic Partnerships for Global Expansion
The investment will enable CarbonX to optimize its unique material, scale its commercial organization, and increase production capacity to support high-volume applications. With a focus on expanding its international presence, CarbonX is poised to make significant advancements in the battery market, providing a cost-competitive and more sustainable alternative to graphite.
About the Investors
Innovation Industries, a Dutch deep-tech venture capital firm with over €500M in capital under management, focuses on investments that address global challenges through breakthroughs in technology. InnovationQuarter, the regional economic development agency for the greater Rotterdam The Hague area, and Borski Fund, a diversity tech VC fund investing in climate tech and sustainable solutions, bring extensive experience in deeptech, battery development, and growth dynamics to support CarbonX’s mission.
With this funding, the startup is well-equipped to lead the way in sustainable battery production, contributing to a more resilient and eco-friendly future for the global battery industry.