NAWA TECHNOLOGIES COMPLETES €18.3M SERIES C FUNDRAISING ENABLING NEW FACTORY AND MASS PRODUCTION OF NAWACAP® ULTRACAPACITORS
NAWA Technologies (NAWA), pioneers of Vertically Aligned Carbon Nanotubes (VACNT), raised €18.3M led by Kouros with Bpifrance through the Ecotechnologies fund of the PIA, Demeter, Supernova Invest, Région Sud Investissement, Eurowatt Capital and OPUS. Altya Invest joined the pool of historic shareholders of NAWA.
This Series C funding will enable the first NAWACap® factory to be built, which is expected to manufacture ultracapacitors from 2023 onwards.
NAWACap® is a new generation of ultracapacitor with an electrode made of Vertically Aligned Carbon Nanotubes (VACNT), the material with the highest electrical conductivity. NAWACap® demonstrates the unrivaled performance of VACNT against ultracapacitors using other materials.
The first global sectors to take advantage of NAWA’s revolutionary energy storage systems, through its NAWACap® product, are the power tools industry and the fast-growing sensor-based IoT market, where NAWACap®’s high power, maintenance-free, long lifetime energy storage capabilities are highly beneficial. Other key markets are the automotive industry in hybrid and electric vehicles (BEVs) and fuel cell vehicles (FCEVs) where NAWACap® can, for example, rapidly store (and deploy) energy from regenerative braking systems, greatly increasing energy efficiency.
Reinhardt Peper, Chairman of the Board of NAWA Technologies, said: “With this new milestone, NAWA is entering the energy storage “Champions League”. The funds will give the NAWA team the opportunity to stay in pole position for VACNT electrodes technology applications, ramp-up series production of ultracapacitors and accelerate development work on lithium-ion battery cell technology. I would like to thank the unwavering support of NAWA’s investors, welcome NAWA’s new investor Altya and acknowledge the strong motivation of NAWA’s employees and the trust of NAWA’s industrial and collaborative partners.”
Ulrik Grape, CEO of NAWA Technologies, said: “The global market for clean, efficient energy storage technologies is increasing exponentially in the coming years and thanks to the confidence of our new investor, and the strong backing of our existing investors, NAWA is ideally positioned to realize the potential of our technology. It validates our innovations and enables NAWA to launch into large scale manufacturing of our NAWACap® ultracapacitors.”