Invest-NL to invest € 5 million in E-magy

The financing round was raised through new investors Invest-NL, Norsk Hydro and Rubio as well as existing investors SHIFT and PDENH. E-magy will also receive a €5.5 million subsidy from the National Growth Fund.

The new capital totals €20.5 million and E-magy is preparing for industrial-scale production in order to meet the growing demand for high-energy density batteries from battery manufacturers and automotive OEMs. 'In addition to transitioning our current pilot facility to a next-generation production line with significantly higher capacity, this financing will allow us to expand our research and development team. We will also be able to hire application engineers to help our customers achieve the best results with our advanced materials,' says Casper Peeters, CEO of E-magy.

Bram Sprangers, investment associate at Invest-NL: 'Accelerating the transition to a carbon-neutral economy is a key part of our investment strategy. We consider our investment in E-magy just the latest example of our firm commitment to supporting ambitious, R&D-driven scale-ups with breakthrough technology. Alongside a fantastic group of like-minded co-investors, we look forward to helping E-magy's international team of battery specialists successfully continue its clean e-mobility journey.'