E-magy, a company that produces materials for electric car batteries, has raised 20.5 million euros from investors. With the money, the company wants to start large-scale production. ‘That has the necessary challenges, but we succeed in that’, says CEO Casper Peeters of E-Magy.
E-magy currently has a pilot plant where the battery material is made. This is done on a pilot scale and is then supplied to battery manufacturers. ‘We are preparing to grow to an industrial scale,’ says Peeters. Making that step involves all kinds of engineering issues and an upscaling of production capacity. ‘We have a good team for that and we are currently expanding that as well.’
Investors
The main investor of the amount of 20.5 million is Hydro, a Norwegian industrial company involved in aluminum and renewable energy. Money will also come from the Dutch state fund Invest-NL and impact investors Rubio, Shift Invest and PDENH. The latter two are already shareholders of the company.
E-magy
E-magy makes material that is a component for electric car batteries. ‘It concerns a special form of silicon (a mineral) that we make suitable for use in a battery. That is to replace the graphite that is in it today.’
The advantage of silicon is that the energy storage per battery is greater. This means that the electric vehicle can have a longer range or can do with fewer batteries. The use of this material in scale production is not more expensive and it is widely available, also in Europe. ‘This reduces dependence on other parts of the world,’ says Peeters.
