NovAzure invests

Posted on 14th January 2022 by Tom Walsh
  • NovAzure makes a follow-on commitment to Anodox, who had recently secured backing from a leading Swedish investor
  • Innovative battery technologies have patents pending
  • Strong order book and strong operational team provides a solid foundation for growth.

NovAzure, an international venture builder and investor in promising early energy and mobility startups, are pleased to announce a follow-on investment into Anodox AB, to support the development of energy systems that use state of the art lithium-ion batteries.

Founded in 2016, Anodox has recently pivoted from being an energy systems consultant to become a product company. It has now brought innovative products to market, based on its leadership team’s prior experience in both mainstream and niche automotive.

Patent pending technology will enable Anodox to supply more sustainable and safer products than the market incumbents. The Company is currently developing a family of 48V batteries using this technology. The aim is to increase energy density, performance and safety.

Overall, NovAzure has now invested twice into Anodox. The latest follows significant backing from Pegroco – a Swedish investor that supports smaller and medium sized companies.

Commenting on the investment, Christopher Gruen, Director at NovAzure, said:

Anodox has demonstrated extraordinary progress in developing truly commercially compelling and technically appealing battery products for the automotive, marine and grid applications and has a high performing and knowledgeable leadership team behind them. With exploding global demand for electrification of transport and renewable electricity outstripping supply for batteries, it’s no surprise that major players in mobility and grid have shown interest in Anodox’s manufacturing capabilities, industry know-how and proprietary technology. We are, therefore, excited to continue our support for Anodox both with this follow-on investment and engagement through NovAzure’s venture builder programme.

Theodore Zannakis, co-founder, Anodox comments:

We are delighted to continue to receive the support of NovAzure, which has enabled Anodox to develop and commercialise a range of batteries that will be truly game-changing in reducing key environmental and safety issues in end use applications such as boats, EVs and off-grid dwellings.