PR91272

CAMBRIDGE, England, Aug. 24, 2021 /PRNewswire=KYODO JBN/ --

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