Reykjavik-based nanotech Nanom raises $3 million in seed funding, aims to make batteries last 9x longer

Icelandic firm Nanom (previously Greenvolt) has raised $3 million in seed funding in their goal to apply nanotechnology to existing nickel-iron and lithium-ion batteries. In doing so, the company claims to add 9x the energy density, recharging rates and lifecycle capabilities to the century old technology.

The process is said to happen all without any massive disruption to the battery making process, “Just mix these nanoparticles into the battery chemical slurry and voilà. The results are even more dramatic in modern Lithium-Ion batteries – and just as easy-to-implement.”

The funding arrives via an EU Green Deal funding, Iceland Venture Studio, and Village Global, whose network includes Bill Gates, Mark Zuckerberg, Jeff Bezos, and Reid Hoffman.

Looking beyond just battery technology, Nanom is reporting that their tech will enable any structure of surface to become an energy storage device. In the prototyping phase, Nanom created an electric boat where the hull of the structure became the power source. To put that into perspective, 15 metres of this construction would hold the same amount of juice of 5 Teslas.

“We are beyond excited to announce Nanom as a company and to emerge from stealth with such exceptional investors who have seen the unmatched potential of our technology to transform the world in such a profound way,” said Armann Kojic, CEO of Nanom. “Imagine a wall in your house becoming a giant, safe battery that takes you off the grid. We can enable all of that today and in a way that is green for the planet and better than the current-generation of batteries on the market.”

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