European 3D solid-state battery start-up LionVolt successfully closed a seed round of €4 million, bringing its total funding this year to more than €5 million.
The round was led by deep tech venture capital firm Innovation Industries and joined by Brabant-focused startup fund Brabantse Ontwikkelingsmaatschappij (Brabant Development Agency, BOM) and investor Sake Bosch. LionVolt spun off last year from TNO at Holst Centre, building on six years of research and development of its innovative battery design.
The funding will support the company’s development of a solid-state lithium-ion battery that is more efficient and sustainable than any lithium-ion battery available on the market today.
The battery that LionVolt is developing is based on 3D technology and solid-state layers. Compared with currently used lithium batteries, these 3D Solid-State Thin-Film batteries are lighter and safer. They recharge rapidly, have a higher energy density, are intrinsically safe and have a long product lifespan.
3D solid-state battery (3DSSB). Source: TNO
The batteries are made by covering billions of pillars with thin layers of functional material, creating a 3D structure with a very large surface area and very short distances between both battery electrodes. The lithium-ions only have to travel a short distance, reducing charging and discharging times.
LionVolt’s proof-of-concept (PoC) of a fully solid-state 3D thin-film battery was demonstrated in December 2020, showing that it’s feasible to produce 3D batteries at a large scale. In the coming years LionVolt plans to further develop this into a 3D solid state battery that is ready for market.
The LionVolt battery will power technology in several industries, including wearable devices, electric vehicles (EVs) and aviation.
Earlier this year LionVolt raised a €1.25 million pre-seed round from TNO, deep tech venture capital firm Innovation Industries, impact fund Goeie Grutten, and Brabant-focused early stage investment Brabant Startup Fonds (BSF) and the Brabantse Ontwikkelingsmaatschappij (BOM).