Amsterdam-based startup CarbonX has secured €4mn to industrialise a new anode material that could help Europe reduce its reliance on China for graphite, a substance which makes up half the weight of a typical lithium-ion battery. Netherlands-based VC Energy Transition Fund Rotterdam led the round. It’s an extension on CarbonX’s €10mn capital injection announced in February, capping off the funding round at a cosy €14mn. Graphite is the go-to material for lithium-ion battery anodes, which is the negative electrode responsible for storing and releasing electrons during the charging and discharging process. Its found in batteries that power everything from EVs…
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