Borski Fund, alongside Innovation Industries and InnovationQuarter, has led a €10 million investment round in Dutch deep tech start-up CarbonX to develop an alternative to graphite for electric vehicle batteries.

Target Information

CarbonX, founded in 2014 by Rutger Van Raalten and Daniela Sordi, is a deep tech start-up based in Delft that is focused on developing an alternative to graphite, an essential raw material for batteries, especially for electric vehicles (EVs). With the recent investment of €10 million led by Borski Fund, a subsidiary of StartGreen Capital, alongside Innovation Industries and InnovationQuarter, CarbonX aims to enhance its capabilities in locally sourcing raw materials and increase the development of its innovative carbon anode material.

Industry Overview in the Netherlands

The electric vehicle market in the Netherlands is expanding rapidly as consumers and businesses increasingly prioritize sustainable transportation solutions. This shift towards EVs is driving a surge in demand for battery materials, particularly graphite, which constitutes about 50% of battery composition. However, the current supply chains are struggling to meet this escalating demand, resulting in significant market opportunities.

Global predictions indicate that by 2030, a shortfall of approximately 1 million tons of anode materials could occur due to the increasing adoption of electric vehicles. T