Oxford-based tech firm now aims to bring its ultra-fast charge supercapacitors into production
Fast charge tech firm ZapGo has raised $7.6m (£5.7m) to bring its novel supercapacitor technology to market.
The Oxford-based company announced yesterday it has raised the sum through private placement financing in the US, with the investment - which was oversubscribed - backed by a number of five-year warrants.
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Founded in 2013, ZapGo makes ultra-fast charge supercapacitors, which are partly based on carbon nano-materials such as graphene. The firm touts the technology as a faster and safer alternative to slower charging lithium-ion batteries, and is now working to introduce its technology into a range of devices including mobile phones, laptops, cordless power tools and electric vehicles.
"This fantastic news from America reinforces the confidence investors have in our charging technology that has been developed by our UK-based team," said Stephen Voller, chief executive officer of ZapGo, in a statement. "This investment will help us finish off the R&D stage of our technology and put it into production."
Supercapacitors are among a number of technologies, including wireless charging and power electronics, which are gathering attention as potential solutions for overcoming the technical challenges of electric vehicles. For example, supercapacitors could prove crucial to improving charge times for cars, which is considered vital for broadening EVs' mass-market appeal.
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