TaiSan charges ahead with funding boost

A battery technology company has charged up its growth ambitions with a £4.65 million funding round to commercialise next-generation sodium-ion batteries.

TaiSan, which has operations in Cambridge and plans to establish manufacturing in Coventry, raised the funding in a round co-led by Eos Advisory and Mercia Ventures through the Midlands Engine Investment Fund II (MEIF II). 

The investment also included backing from AFI Ventures, EverQuest Capital Partners, Adeline Arts & Science, Techmind, angel investor François Badelon and existing investors, while Innovate UK contributed £700,000 through its Investor Partnerships Programme.

Founded by former Jaguar Land Rover and Faraday Institution research electrochemist Sanzhar Taizhan, TaiSan is developing sodium-ion batteries designed for applications including electric bikes, scooters, vehicles and power tools.

While sodium is far more abundant than lithium, conventional sodium-ion batteries have historically been too large and heavy for widespread mobile use. 

TaiSan’s technology overcomes those limitations by producing lighter, more compact batteries using a proprietary solid-state electrolyte, improving both safety and performance.

The company believes its innovation could provide a more sustainable and cost-effective alternative to lithium-ion batteries as demand for electrification continues to grow across multiple industries.

Sanzhar says the funding will enable TaiSan, which has already secured letters of intent from prospective customers, to begin pilot projects with leading manufacturers, expand its Cambridge laboratory and establish manufacturing operations in Coventry. 

He said: “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.”

The latest investment follows £1.3 million in pre-seed funding and several innovation grants, positioning TaiSan to move from technology development towards commercial deployment as it prepares to bring its batteries to market.

Shubham Jaipuria, of Mercia Ventures, added: “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.”

Andrew Durkie, partner at Eos, added: "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 £400 million MEIF II, operated by the British Business Bank, provides debt finance of £25,000 to £2 million and equity investment up to £5 million to help Midlands-based small and medium-sized businesses start, grow or innovate, aiming to boost sustainable economic growth, increase early-stage funding availability and improve access to finance for firms that might otherwise miss out.

Bethan Bannister, senior investment manager at the British Business Bank, added: “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.”

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