As per ESG Today, UK-based Anaphite was founded in 2018 with the purpose to create a more efficient EV battery manufacturing process, eliminating the need for cathode drying ovens and thus, lowering the energy requirements. Thus, electrode manufacturing can be up to 90% more energy efficient than before, replacing the liquid chemicals with a pre-applied powder that doesn't compromise on the performance of the battery cells.

Anaphite CEO Sam Burrow said that "our unique approach and technology portfolio give the EV supply chain the flexibility it needs, removing many barriers to high-yield manufacturing and battery design."

The new capital, which was provided by the likes of VC World Fund and sustainable mobility-focused early-stage investor Maniv, will enable the company to scale up and expand its dry coating capabilities and at the same time, to open its first commercial plant capable of delivering tons of composite cathode materials for more sustainable batteries.

Michael Granoff, Founding Partner at Maniv, added that "while the cost of batteries has declined precipitously over the last two decades, the raw materials, supply chains, and assembly have all become anomalously concentrated in a single country, China. We are confident that Anaphite’s proprietary technology finally moves the needle towards a more distributed and resilient battery supply chain, helping Western battery companies and automakers compete in the decades ahead."