A university spinout seeking to transform the energy capacity of batteries has raised $4.6m (£3.6m) in a fresh funding round. 

Cambridge-based Moylon, which was founded earlier this year, hopes to use sulphur, one of the most abundant elements on Earth, to develop lithium-sulphur batteries, which it claims have much higher energy density than traditional lithium-ion batteries.

According to Molyon, the current standard for batteries is far too low energy dense, meaning heavy batteries with limited range and recharge capacity. These batteries also rely on critical materials – such as nickel, manganese and cobalt – that are subject to supply chain issues. 

The new cash will allow the company to begin manufacturing at its pilot facility, which will focus on lithium-sulphur batteries for drones and robotics. Down the line, the startup aims to tap into the wider transportation industry, which will benefit from lighter weight energy equipment. 

“The promise of lithium-sulphur batteries has been envisaged for decades but until now it has not been possible to realise this potential because of the inherent chemistry challenges of working with sulphur,” said Molyon co-founder and CEO Dr Ismail Sami   

“By utilising MoS2 we have achieved a groundbreaking milestone in battery technology innovation and are on track to bring this new battery chemistry to the market, creating batteries that will end range anxiety.” 

The investment round was co-led by Plural, an investment group launched by the head of UK’s AI Foundation Model Taskforce, Ian Hogarth, and the co-founder of fintech firm Wise, Taavet Hinrikus, alongside IQ capital. 

The funding follows backing from the University of Cambridge, Faraday Institution, Royal Academy of Engineering, Advanced Propulsion Centre, Sir Henry Royce Institute, and the European Research Council. 

“Molyon’s founders have discovered a breakthrough technology with the potential to transform battery power’s suitability for use in many areas,” said Plural partner Carina Namih. 

“It will improve range and performance for applications such as drones and robots, as well as for EVs, electric mobility and battery storage.” 

Innovations in battery technology have become a key pillar in global efforts against man-made climate change. As the world looks to move beyond fossil fuels and towards electrification, the demand for energy-efficient batteries has shot up. 

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