BroadBit Batteries wins EIC Accelerator award
BroadBit Batteries is proud to announce that we have won an EIC Accelerator award from the European Innovation Council and SMEs Executive Agency (EISMEA) to finalize the commercialization of our revolutionary cheap, safe, clean, scalable and sustainable Sodium-Salt batteries for EV, grid storage and other Lithium-ion replacement applications. “This project, named SodiScale, is a game changer for BroadBit Batteries”, said CEO David Brown. “This funding will allow us to rapidly complete our R&D, scale production for our first applications and get to market fast”, he added. The award consists of a grant of 2.5M€ (2.8M$) with the possibility of receiving an additional 8M€ (9M$) EIC equity investment pending securing matching 8M€ (9M$) of 3rd party funds. In addition to supporting, for instance, salaries and patenting, the major part of the project is to design, purchase and install the specialized dry cathode and SO2 electrolyte production equipment needed for large scale manufacturing of BroadBit’s revolutionary Sodium-Salt batteries. “We are now in the process of securing the 3rd party matching investments. Those interested in joining the round and enabling the mass electrification of transportation and the mass adoption of intermittent wind, wave and solar power, please contact me! The world needs our solution yesterday”, concluded Dr. Brown.
BroadBit is a technology company developing revolutionary new batteries using novel chemistries to power the future green economy. We have already made high performance industrial prototypes and are now commercializing the technology for next generation electric vehicles, portable electronics, starters and grid energy storage. Our batteries enable Increased range/use time, longer lifetime, reduced cost, improved environmental friendliness, improved operating temperature range, and scalability to any required production volume.
About the European Innovation Council:
The European Innovation Council (EIC) aims to identify and support breakthrough technologies and game changing innovations to create new markets and scale up internationally. The EIC has been established under the EU Horizon Europe programme. It has a budget of €10.1 billion to support game changing innovations throughout the lifecycle from early stage research, to proof of concept, technology transfer, and the financing and scale up of start-ups and SMEs.