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Photo Credit: InoBat Auto

InoBat Auto, a Bratislava-based R&D and battery production company, has secured €10 million in a round led by IPM Group. The Slovakian startup also received €5 million in government funding just three months ago. The Slovakian startup InoBat Auto’s objective to produce customised batteries for electric cars will place Bratislava on the map as an innovative city.

inobat_auto
Photo Credit: InoBat Auto

Providing 240,000 electric vehicles with cutting edge batteries by 2024

The startup will contribute to Bratislava’s recognition as an innovative and automotive city. Moreover, the startup will help attract numerous clients to Bratislava, who will contribute both to the automotive and meetings industry. The new capital will fund the development of a “first-of-its-kind” R&D centre and 100 MWh production line in Slovakia. InoBat acquired the site in Voderady last month; construction will begin later this year, with the first batteries ready for distribution in 2021. The company is also planning to build a 10 GWh gigafactory with the potential to provide 240,000 electric vehicles with “cutting edge, bespoke batteries” by 2024.

“The governments of the Czech Republic and Slovakia announced a partnership in electromobility, and this is one of the projects that fulfil this initiative,” says Pavel Cyrani of CEZ. Both countries rely heavily on the auto industry and are trying to keep up with the shift to e-mobility.

Commenting on the startup’s mission, co-founder and CEO Marian Bocek said: “The need to accelerate the electrification of transport is becoming more urgent, and through this investment, InoBat Auto will be able to deliver state-of-the-art, customised batteries to electric vehicle manufacturers as early as next year, something which no other company in Europe can offer.”

BRATISLAVA MOTOR CITY CONTINUES TO DEVELOP

Together with InoBat Auto, Bratislava Motor City will continue to develop, attract new companies and contribute to the regional meetings industry. Supplying such customised batteries is made possible thanks to a partnership with investor Wildcat Discovery Technologies. The Californian energy company will supply ‘high throughput’ (HTP) R&D technology, which tests multiple variations of battery chemistry and uses AI to select a composition that best suits the auto manufacturer. As a result, customised batteries could be produced cost-effectively and at scale.

Find out more about Bratislava Motor City here.

This article was implemented with the financial support of the Ministry of Transport and Construction of the Slovak Republic.

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