CarbonX Secures Funding to Reduce Europe's Reliance on Chinese Graphite
Amsterdam, Tuesday, 17 December 2024.
CarbonX received €4 million to industrialize a new anode material, enhancing Europe’s battery sector independence from Chinese graphite. The company plans to secure first offtake agreements by mid-2025.
Strategic Funding Boost
The Amsterdam-based startup’s latest funding round, completed on December 15, 2024, brings CarbonX’s total funding to 14 million euros this year alone, following a €10 million capital injection in February [1]. Led by the Netherlands-based Energy Transition Fund Rotterdam, this investment marks a significant step toward reducing Europe’s critical dependence on Chinese graphite supplies [1].
Innovative Battery Technology
At the heart of CarbonX’s innovation is their proprietary ‘emulsion feedstock’ technology, developed since their 2014 spin-out from Delft University of Technology [1]. According to CTO Daniela Sordi, their unique 3D porous network structure enhances electron and lithium-ion transfer while maintaining high energy densities [1]. The technology is currently undergoing late-stage qualifications with several leading global battery cell manufacturers [1].
Strategic Production Plans
CarbonX is advancing plans to establish its first high-capacity facility at an existing carbon black factory in the Port of Rotterdam [1]. This development comes at a crucial time, as graphite demand is expected to increase dramatically between 2020 and 2040 [1]. The company is also conducting feasibility studies for a 20,000-ton per annum production line in both Europe and the United States [1].
Market Impact and Future Outlook
The timing of CarbonX’s expansion is particularly significant, as noted by Jesse In ‘t Velt from the Energy Transition Fund Rotterdam, who emphasized the company’s role in addressing Chinese export restrictions on graphite [1]. With offtake agreements expected by June 15, 2025 [1], CarbonX is positioning itself as a key player in strengthening Europe’s strategic autonomy in the battery supply chain. As stated by co-founder Rutger van Raalten, ‘A resilient battery supply chain is crucial for global electrification’ [1].