InoBat

InoBat is a Slovakian next-generation battery technology company. In November 2020, the company announced the launch of an “intelligent” EV battery. According to the company, this was the first of its kind and was developed through the combination of AI and high throughput (HTP) technology. The use of AI enables the company to develop bespoke batteries within a short period of time, making it possible to cater to the unique needs and power demands of different vehicles and applications. The company’s technology also reduces reliance on cobalt, resulting in higher energy density, with a goal of reaching 330 Wh/kg by the end of 2023 (compared to 250–270 Wh/kg of the highest-density lithium-ion batteries).

Key customers and partnerships 

In November 2021, InoBat partnered with Chinese equipment manufacturer Wuxi Lead to deploy a lithium-ion pilot battery production line in Slovakia. The first batch of batteries was expected to be produced by the end of 2022. In April 2021, the company entered into a partnership with SOR (a producer of city and inter-city buses in Central Europe) to design, develop, and supply batteries for a new electric bus fleet. InoBat also planned to expand its geographic footprint across Europe and globally by building several gigafactories through 2024. In March 2022, Inobat announced plans to deploy a third facility in Western Europe.

In April 2022, InoBat partnered with Gigamine, a British battery recycling startup, to reprocess lithium-ion batteries from EVs. In September 2022, Inobat partnered with Cosworth, to supply InoBat battery cells for Cosworth’s battery packs in the high-performance automotive market

In October 2022, InoBat signed an agreement with GUS Technology,, for the latter to produce and deliver InoBat’s batteries. During the same month the company signed declarations of intent with the Spanish government to construct a new EV battery production facility in Valladolid, Spain. In November 2022, InoBat partnered with Ricardo to jointly supply battery cells, modules, and packs to high-performance automotive manufacturers.

Funding and financials

In September 2023, InoBat reported that Gotion High-Tech, a Chinese battery developer, acquired a 25% stake in the company. The two companies intend to focus on developing localized battery value chains in Europe, the Middle East, and Africa and will also accelerate R&D across the value chain.

In January 2022, InoBat raised an undisclosed amount in a funding round led by Ideanomics, a company promoting electric mobility. The proceeds were to be utilized to support the completion of InoBat’s pilot battery plant in Slovakia by the end of 2022.