Pava Partners advised the technology startup NorcSi, based in Halle (Saale), on a growth financing round. The funding was provided by existing investors Millennium Venture Capital AG (“Millennium Venture Capital”) and the IBG Venture Capital Fund IV, which is managed by bmp Ventures AG (“bmp Ventures”). In addition,  the European Battery Research Institute GmbH (“European Battery Research Institute”), joined as a new investor.

The funds will be used, among other things, to build and operate a high-capacity system to produce battery anodes made of pure silicon. With this, NorcSi is setting new standards on two fronts. First, it can be considered the first company worldwide to move from pilot-scale production of individual anodes to fully automated industrial roll-to-roll manufacturing of pure silicon anodes. And second, the use of pure silicon in batteries for electric vehicles enables driving ranges of over 1,000 kilometers and charging times of under ten minutes.

NorcSi on Pava Partners

“This financing round marks a major milestone towards scaling our core technology,” says Dr. Marcel Neubert, Founder and CTO of NorcSi.Udo Reichmann, Founder and CEO, adds: “Pava Partners has been supporting our growth for some time now with deep expertise in both technology and financing and played a key role in making this round possible. Many thanks to this incredible team.”