CarbonX secures €4 million to build resilient battery supply chains
The Dutch deep tech startup is set to disrupt the battery industry with a locally produced, new anode material providing a cost-efficient, more sustainable and high-performance alternative to Chinese sourced graphite.
Published on December 11, 2024
CarbonX, a Dutch deep-tech startup revolutionizing battery anode materials, has announced the extension of €4 million on its €10 million growth funding round, co-led by new investor Energy Transition Fund Rotterdam managed by InnovationQuarter and existing shareholders Innovation Industries and Borski Fund. Due to the enormous market pull, the extended round will be used to increase battery test capacity, secure feedstock and offtake, and prepare for a feedstock mixing facility in the Port of Rotterdam, given the first offtake agreements. Founded in 2014 as a spin-off from Delft University of Technology, CarbonX is on a mission to establish sustainable, cost-efficient, and geopolitically independent battery supply chains across Europe and the United States of America.
Addressing Critical Supply Chain Challenges
With 95% of graphite —an essential battery component— sourced from China, global battery manufacturers face significant geopolitical and supply chain risks. While policy initiatives like the U.S. Inflation Reduction Act (IRA) and the EU’s Critical Raw Materials Act (CRMA) aim to address these challenges, solutions that combine scalability, cost-efficiency, and performance are scarce.
Founded by Rutger Van Raalten and Daniela Sordi, CarbonX offers a breakthrough alternative: a locally produced carbon anode material that matches the cost of Chinese graphite, delivering fast-charge and enhanced battery lifetime at the face value of reduced carbon footprint. The company’s carbon anode material is currently undergoing late-stage qualifications with several top 10 global battery cell manufacturers, paving the way for initial offtake agreements expected mid-2025.
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Feedstock technology
CarbonX utilizes a unique emulsion feedstock technology to produce a new carbon anode material equivalent to graphite. One of the key benefits of using this feedstock technology is that the entire production process consumes much less energy than synthetic or natural graphite production, resulting in lower costs and a reduced carbon footprint. Daniela Sordi, CTO of CarbonX, explains, “Our feedstock technology seamlessly integrates into existing carbon black manufacturing plants, producing a novel structured carbon material that functions as an active anode material, like graphite. CarbonX’s unique 3D porous network structure improves electron- and lithium-ion transfer while still highly compressible to achieve high energy densities.”
Team CarbonX, image: CarbonX
Building the foundation for local supply
The new funding will be used to execute first offtake agreements and further lock in local production capacity via contract manufacturing. Additionally, a newly commissioned 200 m2 single-layer pouch lab will be fully staffed to support client qualifications and develop CarbonX’s next-generation anode materials. Furthermore, the company is preparing for a , The Netherlands. In parallel, it will kick off a feasibility study for a 20,000-ton-per-annum production line in both Europe and the US.
“A resilient battery supply chain is crucial for global electrification,” co-founder Rutger van Raalten said. “Yet, we don’t see sufficient alternatives for locally sourcing critical raw materials such as graphite. CarbonX's unique feedstock technology offers the necessary scale, cost efficiency, and battery performance to meet demands for a growing electric future.”
“Founders of CarbonX found an answer to the developing Chinese export ban on graphite. In addition to strengthening the negotiation power of the West, the margins for the existing carbon black factories will significantly improve. Thanks to the long history in refining and bulk processing, the Port of Rotterdam is well positioned to build new sustainable value chains in the extraction and refining of critical raw materials for the energy transition while using the existing installed base,” Jesse In ‘t Velt, Investment Manager of Energy Transition Fund Rotterdam, summarizes the impact being made.