Nyobolt targets data centre role as $30m raise powers AI scale-up

Nyobolt is eyeing up a role as the supplier of energy for power-hungry data centres after securing a $30million war chest courtesy of investors IQ Capital, LocalGlobe, Scania Invest, and Takasago Industry.

The UK pioneer of high-power ultrafast charging technologies announced this week that it has secured contracts worth $150m alongside the new raise.

The funding, which brings the total raised to $100m since being founded in 2019, will accelerate the advancement of Nyobolt’s proprietary technology, fuel market expansion, grow its team, and underpin its position as an industry leader in ultra-fast power systems.

But it is the Evolution Business Park’s focus on powering critical industries with unmatched performance that shifts the dial on future energy policy – especially for power-hungry data centres. The electricity consumption of data centres is projected to more than double by 2030, according to a report from the International Energy Agency published in Nature this week. This massive and hugely troubling leap is largely down to the use of AI.

Evolution Business Park-based Nyobolt already has form when it comes to addressing these vast power and performance needs. The company’s energy storage and fast-charging technologies are setting the new industry standard by delivering up to 20 times more power, charging in minutes and cutting downtime for even the most power-intensive applications to zero.

“These improvements are achieved while using fewer natural resources compared to traditional lithium batteries.

At the core of this breakthrough is Nyobolt’s proprietary anode material. Born out of groundbreaking cell chemistry research, Nyobolt’s systems are capable of reaching higher power density and supercharging capabilities, without degradation – overcoming the most critical limitations of conventional technologies. Nyobolt’s solutions are already deployed in AI-powered warehouses and heavy-duty vehicle applications.

Max Bautin, co-founder and managing partner at IQ Capital, said: “Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business.

“Now, with the advent of the AI revolution, they are in prime position to become the backbone of critical AI infrastructure. We’re continuing to support Sai and the Nyobolt team as they take on this ambitious challenge.”

Sai Shivareddy, co-founder and CEO of Nyobolt, said: “The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands.

“Our technology is designed to handle the energy demands of AI data centres, which estimates from the International Energy Agency say will need between 700 to 1,7000 terawatt-hours by 2035.

“We are developing high-power energy storage solutions that can be deployed in data centres to provide power when renewable energy cannot and ensure 100 per cent uptime for this critical technology, without the need to rely on fossil fuels.

“We have a fully integrated battery value chain with core anode material IP and high-power energy storage systems developed in Cambridgeshire and battery cell engineering in Boston, MA.

“I’m delighted to have the confidence of our customers and investors as we further strengthen our mission to push the boundaries of ultra-high-power solutions.”