Nyobolt selected as a finalist in FT awards

https://e.vnexpress.net/news/business/tech-champions-2022-acclaims-nyobolt-s-fast-charging-tungsten-battery-technology-4538728.html

This is very exciting news for Nyobolt but also for all those avid followers of tungsten - industry recognition of the versatility and value of this critical mineral is yet again a great stamp of approval for where this metal sits in the global market place

Tech Champions 2022 acclaims Nyobolt's fast-charging tungsten batterytechnology

By Phong Van November 22, 2022 | 12:40 am PT

Nyobolt's tungsten batterytechnology, which allows for faster charging and extended battery life, wasselected as a finalist for the Financial Times Tech Champions 2022.

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

"Revolutionizing the performance ofLithium-ion batteries, Nybolt is transforming the use of battery in EVs,medical devices, and robotics," acclaimed the Financial Times judgingpanel when shortlisting Nyobolt as one of the five finalists in the energysector.

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

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

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

Nyobolt’s technology employs H.C. Starck’s advancedtungsten materials in the battery anode coating to produce batteries ofsuperior quality. With record-high power density and ultrafast charging speed,this new-generation battery would compensate for the shortcomings ofconventional batteries such as hyper-sensitivity, thermal stress and exorbitantcosts.

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

Nyobolt's use of HCS advanced tungsten materials inLi-ion batteries is seen as a breakthrough technology that is predicted totransform the battery industry in the near future. When commercializing thisnew battery product range, Nyobolt and HCS will demonstrate their foresight indeveloping a clean energy ecosystem.

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

Accordingly, the investment in Nyobolt demonstratesMasan's strong commitment to continue developing efficient and safe productsthat serve direct consumer needs. Besides funding for Nyobolt to sooncommercialize tungsten-based batteries, in 2022 Masan High-Tech Materials willcontinue to focus on recycling raw materials, implementing carbon-neutralinitiatives, and promoting circular economy development.

"Our ultimate goal is to achieve long-termsustainability. To that end we are working to accelerate the development of acircular economy for batteries via enhanced recycling and innovative models ofuse," said Le.

He added that Masan High-Tech Materials and itssubsidiary HCS are now putting all efforts into research and development of theTungsten Scrap Recycling Plant with the ambition to turn Vietnam into theregion'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'sleading supplier of high-tech materials, but also an innovation leader in the globalconsumer technology products, with high-efficiency rechargeable Li-ion batterybeing the first-to-market," Le stated.

The Financial Times Tech Champions, initiated in2021 and nominated by FT readers, help spot out European companies withscientific solutions to today's business challenges. In 2022, out of nearly 300submissions, FT journalists reviewed them, researched the nominated companies,and helped draw up shortlists in 10 categories.