Holyvolt buys Wildcat to advance battery development

Swedish battery tech company Holyvolt has completed the acquisition of US-based battery materials specialist Wildcat Discovery Technologies.

The deal was valued at $73 million, made up of cash, equity and deferred payments.

The goal is to leverage the tech from Wildcat in development of next-gen batteries, from molecular discovery to pilot-scale production.

Holyvolt is based in Stockholm, Sweden (Photo: Holyvolt)

For example, the purchase of Wildcat gives Holyvolt access to the company’s High Throughput Platform, which can simultaneously synthesize and screen thousands of material combinations to identify optimal combinations up to 10 times more rapidly than conventional methods.

For its part, Holyvolt has production tech that uses screen printing and water-based material processing, a replacement for conventional coatings and organic solvent slurries. This can support modular, sustainable and scalable production.

The materials synthesis process and water-based production tech should deliver cleaner, less expensive batteries produced through supply chains located in Europe and North America.

Additional savings could potentially be unlocked through the use of Wildcat’s cobalt- and nickel-free battery formulations.

Batteries produced by Holyvolt can be used across a range of applications, including automotive and machines, consumer electronics, aerospace, storage and defence, with tailoring offered for specific use cases.

Mathias Ingvarsson, founder & CEO, Holyvolt, said: “Holyvolt is focused on developing new processes to make batteries cleaner and more affordable and Wildcat has been pursuing the same goals via materials development and better chemistry. Combined, we are building what we believe is the most compelling technology to deliver on these objectives.”

In April 2024, Holyvolt opened a production innovation lab in Munich, Germany with the plan to accelerate development of renewable energy technologies.