Pioneers of Vertically Aligned Carbon Nanotubes (VACNT), NAWA Technologies (NAWA) has raised €18.3 million. The funding round was led by Kouros with Bpifrance via the Ecotechnologies fund managed on behalf of the state, Demeter, Supernova Invest, Région Sud Investissement, Eurowatt Capital and OPUS. Altya Invest also joined as the new strategic long-term investor.
This Series C funding will help to build the first NAWACap factory to manufacture ultracapacitors from 2023 onwards.
Headquartered in Aix-en-Provence, France, NAWA Technologies is a world leader in innovative energy storage. Its range of game-changing products is based on the patented technology- Vertically Aligned Carbon NanoTubes (VACNT). The company has applied the unique properties of VACNT to create high power and high energy ultracapacitors, one of the fastest electrodes for lithium batteries and also reinforced carbon fibre composites.
Reinhardt Peper, Chairman of the Board of NAWA Technologies said: “With this new milestone, NAWA is entering the energy storage ‘Champions League’. The funds will give the NAWA team the opportunity to stay in pole position for VACNT electrodes technology applications, ramp up series production of ultracapacitors and accelerate development work on lithium-ion battery cell technology.”
Ulrik Grape, CEO of NAWA Technologies said: “The global market for clean, efficient energy storage technologies is increasing exponentially in the coming years. NAWA is ideally positioned to realise the potential of our technology.”
The first global sectors to take advantage of NAWA’s revolutionary energy storage systems are the power tools industry and the fast-growing sensor-based IoT market, where NAWACap’s high power, maintenance-free, long lifetime energy storage capabilities are highly beneficial. Other key markets are the automotive industry in hybrid and electric vehicles (BEVs) and fuel cell vehicles (FCEVs).