Lionvolt bags €4M for foil battery development

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Dutch battery startup Lionvolt has raised 4 million euros in seed capital to develop a 3D solid-state thin-film lithium-ion battery. The round was led by deep-tech venture capital firm Innovation Industries and joined by Brabant Development Agency (BOM) and investor Sake Bosch. Three months ago, the company already collected over 1 million euro in pre-seed capital.

Credit: TNO/Holst Centre

Lionvolt was spun off from Holst Centre last year. Its focus is a revolutionary battery design, which consists of a foil covered with billions of micropillars, each coated with thin layers of battery materials: lithium-storing electrodes sandwiching an electrolyte. Advantages of this design include higher energy density, faster (de)charging, longer lifespan and an increased safety profile compared to traditional lithium-ion batteries.

“The battery industry requires a bold new approach to meet evolving needs in terms of cost, performance, safety and sustainability. We’re pioneering that solution while building a strong ecosystem to support this innovation,” comments Lionvolt CEO Karl McGoldrick. Lionvolt says that it can source almost 80 percent of the supply chain locally, in the Brainport region.