Leiden, 31 augustus 2021 – Start-up company LeydenJar Technologies has raised €22 million in a new investment round. The financial injection is necessary for up-scaling the plant and further development of its battery technology. In this way, LeydenJar is preparing for mass production at a competitive price. The technology of LeydenJar provides for batteries with 70% more energy density than the best batteries currently available in the market. This enables electric cars with a far larger action radius, smart phones that need to be charged less often or even electricity powered aircraft. The ultimate aim is to accelerate the energy transition with innovative battery technology.
New investors joining in this Series A investment round are YARD ENERGY, Catalus Capital, Invest-NL, ING Sustainable Investments en Somerset Capital Partners. Existing investors (including BOM, DOEN Participations and PVS Investments) will also continue their support. With this new financial injection, the start-up can further develop the technology, prepare the product for mass production and save on the cost price. The Dutch Enterprise Agency also supports LeydenJar with a subsidy of over €5 million.
Growth
Since LeydenJar was formed in 2016 from TNO, it has been working all out for growth and further development of the technology. Increasing the cycle life is a crucial next step in the development of the battery, as well as upscaling the plant in Eindhoven. Furthermore, the tech company also needs people in order to be able to realise that development. While LeydenJar currently has some 20 employees, the company expects this number to grow to at least 70 FTEs in 18 months as a result of this investment.
Founder and director Christian Rood says: ‘With this investment, we can take a major step in accelerating the energy transition, because battery technology is still often the bottleneck for the electrification of cars and many other applications. In the future, we will increasingly use all sorts of applications of batteries. It is therefore extra necessary that they are produced in a sustainable way. We are proud of having been able to win the loyalty of a strong consortium of investors and look forward to developing this technology further, together with our clients.
85% lower footprint
Batteries with high energy density are needed for purposes including the electrification of the car industry. With the battery technology of LeydenJar, an electric vehicle can cover as much as 70% more distance before it needs to be recharged. The battery is also suitable for fast charging, so that you can be on the road again within fifteen minutes. An additional distinctive feature is that the production process for these batteries is also considerably more sustainable than that for ‘ordinary’ li-ion (chargeable) batteries and far less CO2 is therefore reduced in the process: a reduction of as much as 85%.
About LeydenJar
LeydenJar Technologies BV is a European high tech venture, developing pure silicon anodes and its production technology, to boost the energy density of Li-ion battery cells for consumer electronics, electric vehicles, and residential energy storage.