Swedish BatteryTech Startup Holyvolt Expands Reach with €63.1 Million Acquisition of US Battery Materials Firm Wildcat

Holyvolt, a battery technology company based in Sweden, has recently finalized the acquisition of Wildcat Discovery Technologies, a battery materials development firm headquartered in California. The acquisition, valued at €63.1 million (£73 million), includes a combination of cash, equity, and deferred milestone-based payments.

This strategic merger brings together two innovative companies with expertise spanning molecular discovery to pilot-scale production. By integrating their capabilities through a High Throughput Platform, the newly formed group aims to bridge the gap between laboratory breakthroughs and commercialization, ultimately streamlining the battery development process.

Mathias Ingvarsson, the founder and CEO of Holyvolt, expressed that this acquisition aligns perfectly with their commitment to advancing battery technologies. Holyvolt specializes in developing cleaner and more cost-effective battery solutions, while Wildcat focuses on materials development and improved chemistry. Together, they believe they can create a cutting-edge technology to achieve their shared objectives.

Established in 2022, Holyvolt focuses on developing and commercializing innovative energy production and storage products. Their precision screen printing and high-throughput material discovery platform enable the production of high-performance batteries and solar cells at a reduced cost and environmental impact, promoting local supply chains and manufacturing independence.

Wildcat Discovery Technologies, founded in 2006, specializes in helping customers enhance materials for integrated battery cells. Through their high-throughput R&D platform and advanced manufacturing capabilities, Wildcat offers novel materials and manufacturing solutions, including plans to produce nickel- and cobalt-free cathodes in the US.

Wildcat’s proprietary High Throughput Platform (HTP) accelerates material discovery by synthesizing and screening thousands of material combinations simultaneously, leveraging machine learning and AI to optimize materials development processes.

The acquisition by Holyvolt signifies a significant step towards advancing battery technologies in the Western market. By combining Holyvolt’s manufacturing processes with Wildcat’s material expertise, the joint entity aims to produce cleaner, more cost-effective batteries with enhanced performance and reduced environmental impact.

The unified company will serve as a technology development partner for partners and customers across the battery supply chain, offering tailored commercialization models to meet specific needs.

Mark Gresser, President and CEO of Wildcat Discovery Technologies, expressed enthusiasm about the acquisition, highlighting the potential of combining Wildcat’s High Throughput Platform with Holyvolt’s vision to unlock the true potential of battery materials development.