Could our EV batteries be in trouble? A major change in graphite supply is raising alarms. ⚠️
🔋 Graphite makes up to 30% of every #evbattery. Yet, last Friday marked a pivotal moment: China, which controls over 65% of the global #graphite supply, imposed export controls. This move has created a critical situation for battery manufacturers around the world. 😱
But fear not, as we have exciting news!
I am thrilled to announce that Extantia has led the seed investment round in Estonia-based UP Catalyst.
🌟 UP Catalyst is innovating by producing graphite and other carbon nanomaterials from CO2.
Their approach is a triple win:
1️⃣ Challenging China's dominance in the graphite market and revolutionising the supply chain making it more resilient (CO2 is everywhere…).
2️⃣ Reducing costs as the efficient production method is expected to be 30% cheaper than conventional methods.
3️⃣ Drastically cutting #co2emissions.
We are excited to partner with an exceptional team led by Gary Urb, PhD, Einar Karu, Karl-Gustav Tamberg, and Teele Niidas. Also, great to collaborate on this venture with SmartCap, Sunly, Little Green Fund, Scottish Baltic Invest, UniTartu Ventures, and the super-founder Ivar Kruusenberg.
Thank you Tim De Chant at TechCrunch for covering this exciting news!
📚To learn more about the magic of transforming CO2 to graphite, check out our full article here: https://bit.ly/UPCatalyst
#climatetech #venturecapital #innovation
Investor at Perez Properties
3moCongratulations! Keep up the great work!