French start-up begins mass production of its next-gen fast-charging batteries
16 May 2019
NAWA Technologies’ batteries will be used for power tools used on production lines and for automated guided vehicles in factories.
NAWA Technologies, makers of next-generation ultracapacitor-based energy storage systems, is entering a crucial phase of its rapid scale-up: industrialisation and mass production.
Having completed its technical development programme, NAWA has also successfully raised €9M from new investors including industrial investment company Kouros and CAAP Creation (the venture capital arm of Credit Agricole Alpes Provence) alongside existing investors Demeter, Région Sud Investissement, Supernova Invest, Davaniere Capital Partners and KIC Innoenergy.
Now in the process of finalising further funding, NAWA Technologies is preparing to install a first of its kind production line at its Aix-en-Provence facility. By the end of this year, the first manufacturing equipment will be installed and operational, allowing NAWA to steadily build up to over 100,000 ultracapacitor cells a month when at full capacity. With today’s global market for ultracapacitors worth around €500m globally but estimated to grow to €2-3bn in 2023, NAWA Technologies is ideally positioned to take advantage of increased demand.
The first global sector set to receive these revolutionary new cells will be manufacturing, where ultracapacitor cells are ideal for power tools used on production lines and for automated guided vehicles in factories, replacing lithium ion-based systems offering faster charging and longer lifetime. NAWA Technologies also sees the growing sensor-based IoT market as a being a huge beneficiary of maintenance-free, long lifetime batteries.
Other key markets are the automotive industry in hybrid cars, battery electric vehicles (BEVs) and fuel cell vehicles where Ultra-Fast Carbon Batteries can, for example, rapidly store (and deploy) energy from regenerative braking systems, greatly increasing energy efficiency. Future urban mobility, including electric buses, trams or autonomous vehicles is another key target.
Pascal Boulanger, COO of NAWA Technologies, said: “Having completed our development phase with highly successful results, we are delighted to announce we will be operational with the first phase of our production by the end of this year. The installation of new manufacturing equipment at our facility begins in earnest and we will soon supply cells to a wide range of global sectors. Our technology really does have the potential to revolutionise energy storage and there are no limits to how far we can take it.”
Ulrik Grape, CEO of NAWA Technologies, said: “Global ultracapacitor demand is set to rocket in the coming years and we are perfectly positioned to meet the increased needs of multiple sectors, from manufacturing to automotive, urban mobility to smart energy management. Thanks to the backing of new and existing investors, we are rapidly scaling up and we are very excited indeed to be entering the industrialisation phase with mass production imminent.”