NAWA Technologies completes successful fundraising for mass production of the NAWAcap ultracapacitors
The funding will enable NAWA Technologies to build the first NAWACap factory to be built for manufacturing ultracapacitors from 2023 onwards.
NAWACap is a new generation of ultracapacitor with an electrode made of Vertically Aligned Carbon Nanotubes (VACNT), a material with extremely high electrical conductivity.
The first global sectors to take advantage of NAWA’s energy storage systems will be the power tools and sensor-based IoT market. From there, NAWA wants to swiftly grow into the automotive industry with applications in hybrid and electric vehicles (BEVs) and fuel cell vehicles (FCEVs) where NAWACap can, for example, rapidly store (and deploy) energy from regenerative braking systems, greatly increasing energy efficiency.
According to Reinhardt Peper, Chairman of the Board of NAWA Technologies, the funds will give the NAWA team the opportunity to ramp-up series production of ultracapacitors and accelerate development work on lithium-ion battery cell technology.
Ulrik Grape, CEO of NAWA Technologies believes that the global market for clean, efficient energy storage technologies is increasing exponentially in the coming years and NAWA is ideally positioned to realize the potential of our technology.
“NAWA is ideally positioned to realise the potential of our technology. This funding validates our innovations and enables NAWA to launch into large scale manufacturing of our NAWACap ultracapacitors,” he concludes.
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