August 7, 2023

Cancrie joins the ACT For Environment portfolio

Cancrie aims to impact the battery industry by significantly enhancing battery performance, reducing waste, and extending their lifespan. By using agri-waste as an input, Cancrie has created advanced-grade high-purity nano carbons which are used as an additive on battery electrode plates to increase the battery cycle life by more than 50% and enhance energy efficiency by 40%. This leads to faster charging, reduced electricity wastage, and better utilisation of active materials. Their innovative breakthrough not only benefits the end consumers and battery manufacturers economically but also creates a positive environmental impact.

One of the key advantages of Cancrie’s solution is its versatility across multiple battery chemistries. With their materials showing promise, Cancrie has already gained traction in the market, working with notable clients such as Luminous, Laurus, Future Energy and Exide. Their initial target market of $1.6 billion comprises the lead-acid segment, where they are already conducting paid pilots. Eventually, the company has larger plans to expand their solution to other battery chemistries, including lithium-ion, supercapacitors, Na-ion, and Flow batteries for which they already have proof of concepts ready. This opens up a world of exciting possibilities for Cancrie’s future as well as the resulting climate impact.

Cancrie distinguishes itself through its commitment to environmental sustainability. By extending the lifespan of batteries, Cancrie significantly reduces the need for extracting raw materials and the environmentally damaging practice of mining. Furthermore, Cancrie’s production process is far more energy-efficient compared to other carbon grades, resulting in a significantly lower carbon footprint. Their process emits 85 times less GHG than graphene and 35,000 times less than carbon nanotubes, two most advanced grades of carbon.

With support provided by ACT For Environment, Cancrie plans to increase its production capacity threefolds, helping them achieve their commercialization goals. The funding received will also enable Cancrie to conduct trials on advanced-grade lead-acid batteries and lithium-ion batteries, further validating the performance of their materials. These milestones are projected to result in a saving of approximately 630 tonnes of CO2e and 200 tonnes of agricultural waste, making a tangible impact on environmental conservation in the next two years.

We are excited to welcome Cancrie into the ACT For Environment portfolio and witness their journey of improving the performance and lifespan of batteries in a wide range of applications. We believe that Cancrie has the potential to be a major player in the battery industry, and we are excited to support their mission to make batteries more sustainable and efficient.

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