According to tech.eu, the funding round saw participation from imec.xpand and LRM, among others.

The company hopes that, with the new funding, it will be able to address the main issues of current battery technology, such as range, performance and longevity.

SOLiTHOR was founded in 2021 by Huw Hampson-Jones and Dr Fanny Bardé, with the mission to become one of the key suppliers in the European battery value chain and to, hopefully, export batteries worldwide.

Huw Hampson-Jones said that "SOLiTHOR’s technology is based on technology, which will improve energy density and charging speeds and crucially, increase safety and will be far easier to manufacture than other solid-state batteries."

The team behind the project hopes that the new batteries will be used in multiple transport systems, from automobiles, to planes, ships and even spacecraft.

Olivier Rousseaux, director of venture development at imec, stated that "SOLiTHOR is on a path to unleash the great potential of this technology for the society: contribute to the reduction of our carbon footprint through further electrification of our transport and contribute to Europe’s strategic positioning and independence in the energy sector.”