Echion Technologies ("Echion") is a leading developer of next generation 
materials for Lithium-Ion batteries. Its products deliver a unique combination 
of fast-charging capability, cost-effectiveness, and high energy density; vital 
for the world's shift towards decarbonisation through pervasive electrification.

Photo - 
https://mma.prnewswire.com/media/1600336/Echion_Technologies_co_founders.jpg

The Series-A funding round has been led by CBMM - the world's leading supplier 
of niobium products and BGF - the UK & Ireland's most active and dynamic 
investor of equity capital in growth economy companies, with the University of 
Cambridge, Origin Capital and other existing shareholders also taking part.

Richard Pugh, Investor at BGF, who joins the Board of Echion says: "Echion has 
huge potential to use its cutting-edge battery chemistry technology to 
accelerate the adoption of batteries in a range of applications. BGF is 
convinced that batteries will play a critical role in the energy transition, 
and identified that Echion's technology brings significant benefits in key 
areas such as fast-charging or high-power applications."

"This funding round will support an exceptional management team in completing 
the final push to commercial adoption, working in parallel with a range of very 
high quality stakeholders for instance recent joint projects with Johnson 
Matthey ( 
https://echiontech.com/echion-joint-project-johnson-matthey-commecialisation-niobium-elno/ 
), and a number of other high profile international customers."

This increases BGF's investment in companies engaged in carbon reduction and 
the energy transition to 230m pounds, and comes shortly after the announcement 
of a Clean Growth Advisory Board chaired by Baroness Brown of Cambridge. 

Echion's materials have been successfully evaluated by major battery cell and 
battery materials manufacturers around the world, who are now moving forward to 
larger scale trials. This financing will allow Echion to scale-up to 
multi-tonne level material production, demonstrating high-yield, cost effective 
manufacturability as well as to supply the growing demand for material for 
pre-production trials. 

Rodrigo Amado, Head of Strategy and New Ventures at CBMM says: "This 
partnership is part of our global strategy to accelerate the time to market of 
our Battery Materials Business front and bring to market an innovative niobium 
applied technology that will truly transform the way the world moves. Together, 
CBMM and Echion will advance towards sustainable mobility by offering 
ultra-fast charging batteries that have greater stability and longer life. We 
are optimistic and believe that these new products will be available within the 
next year."

The funds will also be used to strengthen customer support, commercial and R&D 
operations.

Echion CEO Jean de La Verpilliere said: "We are tremendously excited to start 
the next stage in our journey to bring the Echion Mixed Niobium Oxide products 
to market. We have great synergies within our investor base, and will keep 
building a world-leading team to deliver exceptional performance to our 
customers. We look forward to creating value for our partners and contributing 
to making superfast charging batteries a reality."

Echion is keen to hear from other cell or battery material manufacturers who 
also wish to evaluate its products.

Chris Gibbs, Investment Manager at Cambridge Enterprise said: "Having supported 
Echion right from the start of its journey to commercialise its novel 
lithium-ion battery technology, Cambridge Enterprise is delighted to see it 
complete this significant funding round. Echion is now in a very strong 
position to deliver on the team's robust commercial traction and make a 
significant impact in the industry."

About Echion Technologies:

Echion is a world-leading developer of advanced lithium-ion battery materials, 
whose products enable cell manufacturers to deliver cost-effective, 
fast-charging, high-energy density and long-life power cells for a wide range 
of markets including automotive, transportation, premium consumer electronics, 
and grid-storage applications.

Echion provides materials and battery cell manufacturers with packages of 
protected intellectual property, customisation options, materials synthesis and 
cell integration know-how and for different end-user markets.

See: www.echiontech.com

About CBMM: 

World leader in the production and commercialization of Niobium products, CBMM 
has more than 400 customers in 40 countries. Headquartered in Brazil, with 
offices and subsidiaries in China, the Netherlands, Singapore, Switzerland and 
the United States, the company supplies products and technology to the 
infrastructure, mobility, aerospace and energy sectors. Founded in 1955, in 
Araxa, Minas Gerais, CBMM has a technology program that expands Niobium 
applications and contributes to the growth and diversification of this market. 

See: https://www.cbmm.com/products 

About BGF:

BGF ( https://www.bgf.co.uk/ ) was set up in 2011 and has invested over 2.5bn 
pounds in more than 400 companies, making it the most active growth capital 
investor in the UK. BGF is a minority, non-controlling equity partner with a 
patient outlook on investments, based on shared long-term goals with the 
management teams it backs. BGF invests in growing businesses in the UK and 
Ireland through its network of 16 offices. In 2018, Canada launched its 
equivalent -- the Canadian Business Growth Fund -- and in 2020, Australia did 
the same, both based on BGF's approach and funding model. 

See: www.bgf.co.uk.

About Cambridge Enterprise:

Part of the University of Cambridge, Cambridge Enterprise supports academics, 
researchers, staff, and students in achieving knowledge transfer and research 
impact.

We facilitate knowledge transfer by helping innovators, experts, and 
entrepreneurs to use commercial avenues to develop their ideas and expertise 
for the benefit of society, the economy, themselves, and the University.

Liaising with organisations both locally and globally, we offer expert advice 
and support in commercialisation and social enterprise, including help with 
academic consultancy services; the protection, development, and licensing of 
ideas; new company and social enterprise creation and seed funding.

See: www.enterprise.cam.ac.uk

Contact:
Ben Ting, Ben.Ting@echiontech.com 

SOURCE Echion Technologies