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CBMM’s Investments in the British Startup Aiming to Accelerate Businesses in Batteries, Which Should Evolve the Electric Mobility Sector
CBMM (Companhia Brasileira de Metalurgia e Mineração) led the first round of investments in Echion Technologies, a British startup developing advanced materials for lithium-ion batteries. The investment from the global leader in niobium products, made in conjunction with the investment fund BGF, totaled R$ 72 million. Also, check out this news: The Global Leader in Niobium Production CBMM Closes International Partnership and Adopts Canadian Technology to Enhance Battery Performance in Electric Vehicles
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CBMM’s Objectives with This Investment
This investment made by CBMM in the British startup is yet another initiative by the company to consolidate its leadership in the development of technologies applied to battery materials with niobium oxide, which should revolutionize the electric mobility sector worldwide. Rodrigo Amado, CBMM’s strategy and new business manager, emphasizes that this investment is part of the company’s strategic plans to accelerate innovative technologies.
The executive also states that CBMM intends to advance even further towards sustainable mobility, offering ultra-rapid charging batteries that have greater stability and lifespan. We are optimistic and believe that these new products will be available next year, concluded the strategy and new business manager of CBMM.
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Plans of the Global Leader in Niobium Products in the British Startup
CBMM and Echion plan to develop products with a unique combination of fast charging capacity, economy, and high energy density—essential characteristics for the global energy transition, that is, in synergy with trends in decarbonization and promotion of electrification. With this investment, the British company will expand the production of these new materials, which have already been evaluated and approved by the world’s leading battery cell suppliers, increasing its capacity to meet the growing demand for pre-production testing. Resources will also be allocated to strengthen customer support for commercial and R&D operations.
CBMM believes that the electric battery market will develop significantly in the coming years. Currently, the company has over 40 projects with universities, research centers, and companies worldwide, aimed at applying new technologies with niobium for this segment.
Also See: Niobium Beyond the Horizon – The Electric Car Battery Market Will Be Important for CBMM, Along with Other Automotive and Technology Sectors
CBMM, a Brazilian company based and controlled in the country, sells industrialized niobium products worldwide. The company has invested between R$ 150 million and R$ 200 million a year in research and innovation in the use of the metal. CBMM has plans to increase niobium sales, thus opening new strategies to attract various sectors, such as automotive, in the battery segment for electric cars.
By 2030, with the increase in niobium products, CBMM needs to diversify its sales market, investing between R$ 150 million and R$ 200 million per year in research and innovation in metals. According to the company’s estimates, in ten years, the amount of niobium used outside of traditional steelmaking applications will represent 35% of total sales.
Among the main bets outside the core business is in the automotive sector, focusing on batteries for electric cars. However, the majority share of investments in research and innovation still comes from the steel industry, which plans to receive R$ 100 million in 2021.
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