• Swindon & Wiltshire Tech
• Monday April 22 2024
• Author Name: Peter Davison

Battery development startup Celltris receives £0.8 million investment

Bristol-based battery startup Celltris has received an £800,000 boost in investment towards its mission to eliminate wasted internal space in lithium-ion cells, the rechargeable batteries used in electric vehicles.

The company has announced the closure of a combined equity and grant investment round which was led by QantX and supported in partnership with UKRI’s Faraday Battery Challenge, delivered by Innovate UK.

The Investor Partnership grant will help to accelerate the development of prismatic cell designs, increasing energy density alongside a significant reduction in cell cost.

Celltris joined SETsquared Bristol’s incubation programme in February 2023 to refine its business model in readiness for investment to scale the company.

The team at Celltris, led by founders Sam Alexander and Ian Hunt, have over two decades’ experience developing lithium-ion batteries.

They are looking to reinvent how cells are assembled, taking advantage of modern manufacturing methods to unlock the next generation of cell design, with a smaller manufacturing footprint than is used today.

Ian Hunt, Celltris CEO, said: “This raise helps us to cement our position as a leading cell design business. It will significantly accelerate the development of our go to market offering and allow us to purchase the equipment required to complete a cell prototyping facility in Bristol.”

Richard Haycock, QantX CEO, said: “The critical scale of energy storage demand is such that even small reductions in cell volume can have outsized impact on cost for manufacturers.

“Celltris are a strong and knowledgeable team and we’re delighted to support them in partnership with Innovate UK as they develop the next generation of cells.”