Sicona raises $22 million for battery expansion

Sicona Battery Technologies has raised $22 million in Series A funding which will be used to further the company’s development plans both in Australia and the United States.

The $22 million investment was led by India’s Himadri Speciality Chemical Ltd, Australian venture capital investor Artesian, and Electrification & Decarbonization AIE LP, a fund managed by Waratah Capital. Riverstone Ventures, Chaos Ventures, Investible Climate Tech Fund LP and Club Investible also participated in the funding round.

Sicona is developing low cost, scalable next-generation battery materials technology used in lithium-ion (Li-ion) batteries.

Sicona’s current generation silicon-composite anode technology delivers a 50-100 percent higher capacity than conventional graphite anodes, according to the company, and its anode materials can deliver more than 50 percent higher cell energy density than current Li-ion batteries.

The company, which has its headquarters and pilot plant based in Wollongong, New South Wales, is advancing engineering studies, site selection and customer qualification for a 20ktpa (~200 GWh) silicon-carbon production plant starting with 5kpta (~50 GWh) in phase 1.

This commercial scale plant will be built in the south eastern United States.

Sicona CEO and cofounder Christiaan Jordaan said: “Sicona’s core product is an innovative silicon metal based silicon-composite battery anode technology enabling more than 50 percent increase in energy density of existing Li-ion batteries.

“By using silicon metal, and not expensive, supply chain constrained and dangerous silane gas like our competitors, Sicona can offer low-cost silicon anode materials at large automotive scale locally in major markets.”

Jordaan said the raising accelerated the company’s mission of becoming a major producer of cost-effective silicon composite anode materials.

Further reading:
Sicona working to develop silicon battery anodes

Picture: Sicona Battery Technologies