Strategic partners included Scania Invest and Takasago Industry and the funding, which brings the total raised to $100m, will accelerate the advancement of Nyobolt’s proprietary technology, accelerate market expansion and help to grow its team.
Power-intensive sectors like AI automation, heavy-duty transport and data centres are under increasing pressure to cut emissions while also keeping systems running 24/7. At the same time, only 20% of solutions across these sectors are currently electrified while pressures are only set to worsen as AI pushes global power demand up by 165% by 2030.
Nyobolt’s energy storage and fast-charging technologies can deliver up to 20x more power, charging in minutes and cutting downtime for even power-intensive applications to zero, while using fewer natural resources compared to traditional lithium batteries.
At the core of Nyobolt’s technology is its proprietary anode material. Born out of groundbreaking cell chemistry research, Nyobolt’s systems can reach higher power density and supercharging capabilities, without degradation – overcoming the most critical limitations of conventional technologies.
These power and performance improvements have already seen Nyobolt’s solutions deployed in AI-powered warehouses and heavy-duty vehicle applications. The company closed 2024 with $9 million in revenue and was the first company to successfully charge an electric car battery to 80% in under five minutes. It is now positioned to triple its revenue figures, with over $150 million in contract value already secured.
To meet unprecedented AI data centre power demand, the company is currently developing high-density power systems to address the 10x power requirements driven by such AI growth. These solutions will help to power the data centre industry as it is on track to be worth $500 billion within five years.
Commenting Sai Shivareddy, Co-Founder and CEO of Nyobolt, said, “The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands. Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast charge solutions when they need them the most. I’m delighted to have the confidence of our customers and investors as we further strengthen our mission to push the boundaries of ultra-high-power solutions.”
