Materials technology company Sylvatex (SVX) has developed a new production process for cathode active material (CAM). The proprietary production process uses no water.
The company recently closed a Series A funding round of $8.4 million through investments from Catalus Capital, Amplify Capital and How Women Invest for the commercialization and scaling of its technology.
“Most process improvements reduce operating costs but increase capital costs; however, this innovation from SVX is unique because it reduces both capital costs and operating costs simultaneously, resulting in a substantial reduction in battery costs on a $/kWh basis,” says VP of Catalus Capital Saif Qazi.
“The company’s simpler and more sustainable approach to CAM production is expected to enable a 25-percent reduction in CAM cost, a 40-percent reduction in plant capital requirements and up to an 80-percent reduction in energy usage,” says SVX.
“SVX’s technology also enables flexibility on raw material inputs, such as transition or recycled metal oxides, which reduces geopolitical and other supply chain risks while lowering the cost of the EV battery,” says SVX.
The company also says it is collaborating with EV manufacturers and supply chain partners to qualify materials and continue scaling its processes.