Tech.eu writes that Echion Technologies is a Cambridge-based startup that developed alternative battery tech, based on niobium, which offer rapid charging times. Volta Energy Technologies, a private investor focused on energy storage solutions for the automotive and energy industries, led the financing round and joined existing investors BGF and Cambridge Enterprise Ventures.

Echion officials already established a partnership with one of the world's most important niobium makers, CBMM, to produce its innovative XNO materials. As per the partnership, the two companies will open this year a manufacturing facility with a 2.000 tons production capacity.

Echion's XNO niobium-based batteries offer performance levels similar to those of lithium-ion cells, enabling 10-minute fast charging sessions, while delivering high power over 10.000 charge cycles.

Echion CEO Jean de La Verpilliere said that "our ambition is to deliver the best fast-charging batteries to unlock the electrification of heavy-duty vehicles. The investment from our partners Volta Energy Technologies, CBMM, BGF and Cambridge Enterprise Ventures cements our ambition to achieve full-scale commercialization and full production volume."