Skip to main content

February 13, 2024

Borski Fund, part of StartGreen Capital, together with Innovation Industries and InnovationQuarter, led an investment round of ten million euros in the Delft company CarbonX. The deeptech start-up will use the money to further develop its alternative to graphite, an important raw material for batteries.

Impending shortage

About half of batteries for electric vehicles (EVs) consist of graphite. As demand for EVs is expected to continue to grow significantly, commodity chains cannot keep up. By 2030, the global shortage is expected to be 1 million tons of anode material, representing a market opportunity of $8 billion. In addition, China announced export restrictions on graphite earlier last month, limiting supplies to the US and EU.

Local and independent

CarbonX, founded in 2014 by Rutger Van Raalten and Daniela Sordi, aims to establish local supply chains and thus become independent of the natural graphite supply chain, dominated by China. CarbonX uses a unique emulsion technology to produce a new carbon anode material in large volumes in regional production facilities.

CEO of CarbonX Rutger van Raalten:

'With this investment, we want to further test the application of alternative graphite together with battery and car manufacturers. I expect the first production in Europe in 2025.'

Circular and sustainable alternative

Other substitutes for graphite in batteries include synthetic graphite and silicon. 'However, the production of synthetic graphite requires much more energy than our application and silicon has challenges in terms of stability,' says Van Raalten. CarbonX's unique raw material technology consumes little energy compared to synthetic or natural graphite, resulting in lower costs and a smaller carbon footprint. With its method, CarbonX can also make graphite from biomass and discarded car tires, making production circular.

Also read it article in the Financieel Dagblad about this groundbreaking innovation.

en_GBEnglish (UK)