November 28, 2023

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Madrid

Madrid

Spain

Floatech, the disruptive Spanish startup, to build pilot plant for the production of its next-generation silicon anodes.

• Silicon anodes will be crucial for the next generation of lithium-ion batteries (LIBs) that will power future electric vehicles.

• The international market for these anodes for electric mobility LIBs is valued at over 36 billion euros, with an expected annual growth rate of 18% for the period 2022-2032.

Floatech, the Spanish startup and spin-off of IMDEA Materials Institute in Madrid, has secured investor backing to establish a pilot plant for the production of 100% silicon anodes intended for lithium-ion batteries (LIBs).

The funding will enable Floatech to construct an advanced pilot plant in the Community of Madrid and integrate its’ high silicon content anodes (Si:coil™), into the European battery production chain.

This strategic investment, led by prestigious risk capital funds Grow Venture Partners, Big Sur Ventures, and CDTI, specialised in disruptive technologies for ecological transition, positions Floatech as a key player in the sustainable future of electric mobility.

Moreover, it will allow the company to triple its workforce, expand its facilities to an industrial centre in Getafe, Madrid, and start supplying Si anode rolls for validations with industrial clients in the transportation and electronics sectors.

Floatech aims to have the pilot plant operational before the end of the first quarter of 2024.

A leading company in battery anode technologies, Floatech is committed to sustainable innovation in the energy sector. Its flagship product, Si:coilTM, represents a significant advance in the efficiency and sustainability of batteries for electric vehicles and electronic devices.

The competitive commercial process for manufacturing nanostructured silicon anodes developed by Floatech has the advantage of not using mixing processes, solvents, or polymers, thus reducing manufacturing costs and CO₂ emissions.

Furthermore, the method combines scalability in manufacturing, sustainability, and results in the production of high-performance LIBs. Floatech has a process to manufacture nanosilicon in a textile format that allows its direct introduction into the LIBs production line.

Currently, the company has a joint cell development program for automotive applications based on its anode, collaborating with a European automotive specialist. Its roadmap includes initiating a similar program for batteries in air mobility and portable electronic devices.

Floatech has already achieved sales to customers in Europe and the USA, with the goal of starting sales in Asia by mid-2024. Floatech was ranked fifth out of 200 companies in the last NEOTEC call from CDTI and first out of 150 in the SME call from the Community of Madrid.

Floatech's core technology was developed in a research excellence project funded by the European Research Council through the prestigious "ERC Starting Grant" and "ERC Proof of Concept" programs, carried out at IMDEA Materials.

For more information, please contact the communication manager of the IMDEA Materials Institute, Andrew Johnston, at: 633 681 093, or, 915 49 34 22 (Ex. 1015) or via email at andrew.johnston@imdea.org.