Anaphite has successfully raised £1.4 million in follow-on funding to advance its innovative battery technology for electric vehicles.

Target Information

Anaphite, a pioneering battery technology company based in the UK, has successfully raised £1.4 million in a Series A follow-on funding round. This funding will primarily be allocated towards the advancement of its groundbreaking Dry Coating Precursor (DCP®) technology, which is designed to enhance the production of lithium iron phosphate (LFP) cathodes and graphite anodes. With this funding, Anaphite aims to engineer homogenous dry composite powders that facilitate dry coating technologies.

The investment consists of £700,000 in grant funding from Innovate UK's Clean Energy and Climate Technologies competition, complemented by an equal amount invested from climate-focused venture capital funds Elbow Beach and WorldFund. This financial backing is expected to enable Anaphite to meet a crucial technical challenge in dry coating: the successful manufacturing of LFP electrodes, a venture critical to scaling the production of next-generation electric vehicle batteries.

Industry Overview in the UK

The UK's battery technology sector is rapidly evolving, driven by the increasing demand for electric vehicles (EVs) and sustainable energy solutions. With the government prioritizing advanced manufacturing in it