TaiSan, a battery technology startup, has raised £4.65 million in funding from Eos Advisory and Midlands Engine Investment Fund II. The round was co-led by Eos Advisory and the Midlands Engine Investment Fund II through fund manager Mercia Ventures, with participation from AFI Ventures, EverQuest Capital Partners, Adeline Arts & Science, Techmind, angel François Badelon, and existing investors InnoEnergy, TSP Ventures, Exergon, and Heartfelt. Of the total raised, £700,000 came from Innovate UK, which provided grant funding through its Investor Partnerships Programme to match fund part of the private investment.
Concerns about the cost and scarcity of lithium used in conventional batteries have driven interest in sodium, one of the most abundant elements on Earth, as an alternative. Until now, sodium-ion batteries have been large and heavy, limiting their use mainly to stationary energy storage. TaiSan's technology delivers batteries that are lighter and more compact than existing sodium-ion and lithium-ion alternatives, making them suitable for a much broader range of applications including electric bikes, scooters, vehicles and power tools. Designed for long service life, the batteries use TaiSan's proprietary solid-state electrolyte, which is safer than conventional flammable liquid electrolytes.
The funding will enable TaiSan to advance its technology and begin pilot tests with leading manufacturers. Letters of intent have been signed with a number of prospective customers, demonstrating strong market interest. Following the latest funding round, TaiSan plans to expand its existing Cambridge laboratory and establish manufacturing operations in Coventry.
Founded by Sanzhar Taizhan, a former research electrochemist at Jaguar Land Rover and The Faraday Institution, TaiSan builds on his background in engineering. Born in Kazakhstan, where he was a local chess champion, Sanzhar moved to the UK at the age of 18 to study engineering. During his studies he founded and led a team that in three successive years reached the finals of the international Hyperloop competition organised by SpaceX and The Boring Company, a first for an England-based team. TaiSan has secured multiple innovation grants and raised £1.3 million in pre-seed funding to date, and is positioned to scale rapidly through a capital-efficient business model.
At TaiSan, we are pushing the limits of electrochemistry in our mission to create more sustainable energy storage. While we've kept our most exciting breakthroughs in stealth, this funding will help us enhance the performance of sodium-ion batteries and bring the benefits to a mainstream audience. Watch this space.
With a growing battery market, manufacturers are seeking alternative technologies with a more reliable supply chain. TaiSan is well placed to capitalise on this. We believe its innovations will enable widespread take-up of sodium-ion batteries and make them a genuine alternative to standard batteries for many day-to-day applications.
We are delighted to co-lead this round and support Sanzhar and the TaiSan team as they take this exciting technology to market. Advances in sodium battery technology promise a credible and cost-effective alternative to lithium batteries, whilst addressing supply chain and safety concerns. This is exactly the kind of deep technology innovation, built of world class science and driven by a passionate founder, that we at Eos are dedicated to support.
The Midlands Engine Investment Fund II is proud to support companies such as TaiSan, which has identified a gap in the market and is developing solutions to address it. This recent investment will enable the pilot collaborations and product testing, helping to validate the concept. This innovation aims to provide an alternative solution to commonly used electric appliances that are part of everyday life.
