French NAWATechnologies raises €13 million to build next-gen cleantech battery cells

NAWATechnologies

Aix-en-Provence-based NAWATechnologies, the makers of the next-generation energy storage systems, has completed its latest round of funding of €13 million, enabling it to enter mass production of its next-gen ultracapacitor cells. 

NAWATechnologies, founded in 2013, has developed an energy solution that can store 100x more electricity, costs 150x less than classical batteries and reduces five fold the environmental impact of growing battery waste. Today, battery storage is a key component for the EU to achieve a sustainable, low-carbon energy system. NAWA’s ‘Ultra-Fast Carbon’ battery and applied nanotechnology is disrupting for the energy sector, and currently has unsurpassed performance.

The first global sector set to receive these revolutionary new cells will be manufacturing, where ultracapacitor cells are ideal for power tools and for automated guided vehicles in factories, replacing lithium ion-based systems, and offering faster charging and longer lifetime. NAWA Technologies also sees the growing sensor-based IoT market as a being a huge beneficiary of high power, maintenance-free, long lifetime batteries.

Other key markets are the automotive industry in hybrid cars, battery electric vehicles (BEVs) and fuel cell vehicles (FCEVs) where Ultra Fast Carbon Batteries can, for example, rapidly store (and deploy) energy from regenerative braking systems, greatly increasing energy efficiency. At the 2020 Consumer Electronics Show (CES) in Las Vegas, NAWA Technologies revealed its NAWA Racer concept e-bike which debuted a world-first hybrid ultracapacitor/lithium battery. Future urban mobility, including electric buses, trams or autonomous vehicles is another key target.

Using this funding round, the company’s next-generation production line equipment will be installed at NAWATechnologies’ Provence facility in 2020, allowing NAWA to steadily build up to over 100,000 ultracapacitor cells per month when at full capacity.

New investors supporting the company include Bpifrance, through its Ecotechnologies fund, industrial investment company Kouros SA and CAAP Creation (the venture capital arm of Credit Agricole Alpes Provence) alongside Demeter, Région Sud Investissement, Supernova Invest, Eurowatt / Davaniere Capital Partners and EIT InnoEnergy.

Laure Michel, Investment Director at Bpifrance, said: “We are delighted to participate in the NAWATechnologies adventure. The electrodes developed by the company set a new standard for batteries and ultracapacitors. Their technical, sustainable and economic characteristics offer huge energy storage opportunities to the largest markets in the world: communications, transport and the network.” 

Florent Bergeret, Head of Investments of Kouros France, said: “We are thrilled to have led the Serie B round of NAWA Technologies. Next-gen ultracapacitors from NAWATechnologies are the missing technology brick to run in tandem with batteries. We believe NAWA Technologies’ ultracapacitors are the key to unlocking massive electrification of transport (whether for battery electric vehicles or hydrogen vehicles), increasing range and reducing charging time.”