- Allotrope Energy’s technology offers a safe ultra-fast charging alternative to current lithium-ion technologies.
- Suzano Ventures will invest up to US$6.7 million that will enable Allotrope Energy to progress its novel high-rate battery material technology.
- Carbon for batteries will be derived from biomaterials produced as co-product in Suzano’s pulp manufacturing process.
São Paulo, Suzano Ventures has made an investment of up to US$6.7 million in the British battery manufacturing startup, Allotrope Energy. This is the US$70 million corporate venture capital fund’s first investment following its launch last year by Suzano, the world’s largest hardwood pulp producer.
Allotrope Energy is the developer of an agile high-rate carbon technology that can help unlock a new family of ultra-fast charging lithium-carbon and lithium-ion capacitor batteries. These batteries have the potential to transform a range of industries, from mobility to aerospace and robotics. These batteries can reach full charge in similar time to fuelling an internal combustion engine vehicle, without the safety hazards associated with other lithium-ion technologies.
Allotrope Energy’s battery technology can be made using carbon extracted from an abundant biomaterial co-product of Suzano’s own production process of creating pulp from sustainably sourced wood. In addition to being ultra-fast charging batteries, they do not require the use of materials such as cobalt, nickel and rare earth metals, where shortages have been impacting global supply chains and increasing costs.
Beyond the investment and supply of biomaterials, Suzano and Allotrope Energy will enter into a broader partnership agreement. Under the potential arrangement, Suzano’s teams in Brazil and Canada will support innovation and commercialisation of the technology, as well as developing global supply chains and markets for the batteries.
Paula Puzzi, Manager of Suzano Ventures, said:
“At Suzano Ventures, our focus is on finding deep tech startups that can build a circular and regenerative economy through the innovative production and use of biomaterials. We are excited that our first investment is into a company can harness a co-product from our own pulp production process as a key raw material, to help accelerate the global transition to zero emission mobility.
“There is already significant commercial interest in Allotrope Energy’s technology, and the company shows considerable promise for being able to deliver at scale. “
Dr Peter Wilson, CEO of Allotrope Energy, added:
“This significant investment is the pivotal step in demonstrating the immense opportunity in combining Suzano’s sustainable, natural resource and Allotrope’s agile high-rate carbon technology.
“Working with Suzano we get access to a critical raw material that is sustainably produced, alongside the commercial and technical expertise and global reach from working with a major multinational business. It comes at a time when we see an increasing global interest in exploring new battery technologies which offer broad appeal across a range of industries.”