Lithium-sulfur battery startup Molyon raises $4.6M

Molyon, a battery startup spun out from the University of Cambridge, has raised $4.6M in its first round co-led by IQ Capital and Plural. The funding will kickstart manufacturing at its pilot facility in Cambridge by expanding its core team including battery engineers, material scientists and operations staff. 

There is a global push to discover higher-performance batteries than lithium, with resilient supply chains, to lay the foundation for an electrified world. Lithium-sulfur batteries have significantly higher energy density than Li-ion and utilise readily available materials, including sulfur, the fifth most abundant element. They have the potential to solve key issues including range anxiety in EVs. However, state-of-the-art Li-S batteries have yet to be commercialised because sulfur from the cathode dissolves into the electrolyte – causing the anode to corrode and the battery to fail after only a few cycles. 

Following the new funding, Molyon will grow its team and begin manufacturing at its pilot facility. In the short term, this will enable the company to develop batteries for drones and robots, which will benefit from the lighter weight and improved range that Molyon’s batteries will provide.

Dr Ismail Sami, co-founder and CEO of Molyon, said: “The promise of lithium-sulfur batteries has been envisaged for decades but until now it has not been possible to realise this potential because of the inherent chemistry challenges of working with sulfur. By utilising MoS2 we have achieved a groundbreaking milestone in battery technology innovation and are on track to bring this new battery chemistry to the market, creating batteries that will end range anxiety. We have an unrivalled founding team, which between us has years of commercial and research experience, along with insightful advisers and world-leading investors. Now we have the right backing to go forward and disrupt the industry for the better.”

Carina Namih, Partner at Plural, added: “Molyon’s founders have discovered a breakthrough technology with the potential to transform battery power’s suitability for use in many areas. It will improve range and performance for applications such as drones and robots, as well as for EVs, electric mobility and battery storage. This excellent and focused team has the IP, the deep technical knowledge, the drive and commercial expertise to bring this novel technology to market and build a new battery company that can challenge the legacy suppliers.”