Nyobolt Secures $30M to Expand Ultrafast Charging Tech for High-Demand Sectors

UK-based Nyobolt has raised $30 million to further develop its battery tech, which enables electric vehicles to reach 80% charge in under five minutes.

Fast-charging batteries designed to meet growing AI and transport power needs

As industries like AI, heavy transport, and data centers face rising pressure to decarbonize without compromising performance, Nyobolt, a deeptech company based in Cambridge, UK, has announced a $30 million funding round to support the commercialization of its ultrafast-charging battery solutions. The round was led by IQ Capital and Latitude—the sister fund of LocalGlobe—with participation from Scania Invest and Takasago Industry. The new investment brings Nyobolt’s total funding to $100 million.

Founded in 2019 by Dr. Sai Shivareddy and Dr. Kent Griffith, Nyobolt has developed a proprietary anode technology that allows batteries to charge significantly faster than traditional lithium-ion cells. The system’s unique composition, based on niobium and tungsten oxides, enables rapid lithium-ion movement and minimal degradation, even over 4,000 charge cycles. In real-world testing, the company’s 35kWh EV battery prototype achieved a 10–80% charge in under five minutes using a 350kW DC fast charger.

Dr. Sai Shivareddy, the company’s CEO, emphasized that the rising energy demand, particularly from AI infrastructure, cannot be met with existing energy systems. “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,” he said, noting that Nyobolt’s vertically integrated technology provides consistent, fast-charging capabilities for critical operations.

From lab research to real-world deployments

Nyobolt’s batteries are already being deployed in AI-powered warehouses and heavy-duty vehicles, enabling systems that require high uptime to function more efficiently. The company reported $9 million in revenue in 2024 and has secured more than $150 million in contracts. Their technology is engineered to serve industries with increasing energy needs, including next-generation AI data centers, which are projected to grow tenfold in power consumption by 2030.

With demand for faster, more efficient charging on the rise, Nyobolt aims to bridge the gap between sustainable energy goals and the practical needs of high-performance applications. The company’s batteries consume up to 60% less lithium than conventional alternatives and are being designed with recyclability in mind, helping reduce environmental impact and dependency on scarce resources.

Backed by strategic investors targeting scalable impact

Max Bautin, Co-Founder and Managing Partner at IQ Capital, described Nyobolt as a rare case of successfully translating academic research into scalable industrial solutions. He noted that the company has become a key supplier for high-density energy systems used in both AI and transport sectors.

Ash Arora, Partner at Latitude, commented that while the five-minute EV charge is headline-worthy, Nyobolt is focused on building foundational energy solutions for the AI-driven future. “They’re building the backbone of the AI-powered future,” he said.

Meanwhile, Jessica Persson, Head of Venture Capital and M&A at Scania, pointed to the importance of such innovations in achieving sustainable transport objectives. She highlighted Nyobolt’s contribution to electrifying heavy-duty transport and industrial infrastructure.

By pushing forward the commercialization of rapid-charging systems, Nyobolt positions itself to meet the mounting energy demands of a fast-electrifying global economy.