Tech Champions 2022 acclaims Nyobolt’s fast-charging tungsten battery technology

This year’s Tech Champions features energy as a focus of attention for innovators. Nyobolt, a startup funded by Masan High-Tech Materials, has outperformed excellent applicants to advance to the final round. The company is recognized as the pioneer in the development of ultrafast-charging tungsten-based battery technology.

“Revolutionizing the performance of Lithium-ion batteries, Nybolt is transforming the use of battery in EVs, medical devices, and robotics,” acclaimed the Financial Times judging panel when shortlisting Nyobolt as one of the five finalists in the energy sector.

The Financial Times (FT) Tech Champions identify those European companies that have used technology to pivot their businesses to new ways of working. More than 300 nominations came from multiple sectors are companies working to tackle energy shortages, economic sanctions, and broken supply chains as a result of the political turmoil in Eastern Europe and in the aftermath of the Covid-19 pandemic.

Nyobolt’s fast-charging tungsten battery. Photo by Nyobolt

The FT judging panel will review and select the winners in categories including banking & payments, markets & financial services, shipping & transport, manufacturing, professional services, retail, energy, IT & cybersecurity, media, and healthcare. The 10 winners will be announced on Nov. 21.

This is a stepping stone for Nyobolt after receiving an investment of GBP 45 million (around 52 million euro) in July 2022 from H.C. Starck Tungsten Powders (HCS) – a subsidiary of Masan High-Tech Materials. The funding from H.C. Starck has helped Nyobolt scale up its operations in the U.K. and U.S. to focus on the development of the next-generation tungsten batteries.

Nyobolt’s technology employs H.C. Starck’s advanced tungsten materials in the battery anode coating to produce batteries of superior quality. With record-high power density and ultrafast charging speed, this new-generation battery would compensate for the shortcomings of conventional batteries such as hyper-sensitivity, thermal stress and exorbitant costs.

H.C. Starck Tungsten Powders’ representative (R) signs agreements to invest 52 million euro in Nyobolt Limited. Photo by Nyobolt

Nyobolt tests have shown that tungsten-based lithium-ion batteries are 10 times more efficient than conventional batteries of the same size, with 90% charged in less than five minutes. With up to 10 times higher power density, the battery has longer durability and saves cost of battery usage. Particularly, this battery technology helps reduce risks of fire and explosion, thus increasing safety for end-users.

Nyobolt’s use of HCS advanced tungsten materials in Li-ion batteries is seen as a breakthrough technology that is predicted to transform the battery industry in the near future. When commercializing this new battery product range, Nyobolt and HCS will demonstrate their foresight in developing a clean energy ecosystem.

Danny Le, Chairman of Masan High-Tech Materials, shared that the company aimed to move further downstream and become a global consumer-tech business, addressing the unmet needs of key industries around the world.

Accordingly, the investment in Nyobolt demonstrates Masan’s strong commitment to continue developing efficient and safe products that serve direct consumer needs. Besides funding for Nyobolt to soon commercialize tungsten-based batteries, in 2022 Masan High-Tech Materials will continue to focus on recycling raw materials, implementing carbon-neutral initiatives, and promoting circular economy development.

“Our ultimate goal is to achieve long-term sustainability. To that end we are working to accelerate the development of a circular economy for batteries via enhanced recycling and innovative models of use,” said Le.

He added that Masan High-Tech Materials and its subsidiary HCS are now putting all efforts into research and development of the Tungsten Scrap Recycling Plant with the ambition to turn Vietnam into the region’s leading technology center for recycling tungsten and precious metals, thereby reducing reliance on primary raw materials from mining activities.

“By 2027, Masan will not only be the world’s leading supplier of high-tech materials, but also an innovation leader in the global consumer technology products, with high-efficiency rechargeable Li-ion battery being the first-to-market,” Le stated.

The Financial Times Tech Champions, initiated in 2021 and nominated by FT readers, help spot out European companies with scientific solutions to today’s business challenges. In 2022, out of nearly 300 submissions, FT journalists reviewed them, researched the nominated companies, and helped draw up shortlists in 10 categories.