Dutch startup LeydenJar Technologies has raised €22 million in a new investment round. The company will use the funding to scale up its production facility and further develop its battery technology. LeydenJar raised the amount from Dutch and American venture capitalists, and also received  a subsidy of over €5 million from the Netherlands Enterprise Agency.

The company currently has 25 employees, but expects to grow to at least 70 employees in 18 months as a result of this investment.

LeydenJar’s battery technology is based on 100% silicon anodes produced through a plasma-based deposition process. The company claims its batteries can deliver up to 70% more energy density than current designs. It is currently working towards market introduction of its products in the consumer electronics and automotive sectors.

“With this investment, we can take a major step towards accelerating the energy transition,” said founder Christian Rood. “We are proud of having been able to secure the support of a strong consortium of investors and we look forward to developing this technology further, together with our clients. Onward to the super-battery!”

Source: LeydenJar Technologies