BTRY, Empa, and ETH Zurich Spin-Off, Raises CHF 900,000 for Rapid-Charging Thin-Film Solid-State Batteries

The successful BTRY founders: Moritz Futscher, Abdessalem Aribia and Yaroslav Romanyuk (from left to right). Image: Empa

(IN BRIEF) Swiss startup BTRY, a spin-off from Empa and ETH Zurich, has secured CHF 900,000 in its initial funding round. Led by High-Tech Gründerfonds (HTGF) and Zürcher Kantonalbank (ZKB), the startup focuses on developing thin-film solid-state batteries capable of ultra-fast one-minute charging and discharging, offering high energy density and safety. They achieved this by stacking ultra-thin film cells through an eco-friendly vacuum coating process. These batteries find applications in various sectors, including consumer electronics, sensors, robots, drones, and satellites. The funding will help BTRY manufacture its first-generation battery cells and gather customer feedback for further product improvement.

(PRESS RELEASE) DÜBENDORF, 18-Jan-2024 — /EuropaWire/ — Empa, the Swiss research institute for applied materials sciences and technology, in collaboration with ETH Zurich, is proud to announce that its innovative spin-off, BTRY, has successfully raised CHF 900,000 in a pre-seed financing round. The funding round was led by High-Tech Gründerfonds (HTGF) and Zürcher Kantonalbank (ZKB). BTRY focuses on developing advanced thin-film solid-state batteries capable of ultra-fast one-minute charging and discharging. Unlike traditional lithium-ion batteries, BTRY’s technology offers a high energy density, increased safety, and reliable performance even in extreme temperature conditions.

What sets BTRY apart is its innovative approach of stacking ultra-thin film cells to create more potent batteries. The company employs an eco-friendly vacuum coating process that doesn’t require toxic solvents, making production scalable while ensuring efficiency and quality. These batteries have versatile applications, including consumer electronics like smartphones and smartwatches, as well as sensors, robots, drones, and satellites.

The financing obtained in this round will be instrumental in enabling BTRY to manufacture its first-generation battery cells using selected pilot lines. This step will facilitate the collection of valuable customer feedback, enabling iterative product improvements tailored to meet the needs of the target market.

Moritz Futscher, CEO and co-founder of BTRY, expressed his enthusiasm for this significant milestone achieved only eight months after the company’s founding. He said “This financing round, just eight months after the company was founded, is a significant milestone for us, and we are delighted to have such great partners at our side. We are highly motivated to take the next steps together to make our vision a reality – revolutionizing energy storage.”

Investment Manager at HTGF, Timo Bertsch, praised BTRY’s material and process innovations, commented “We are convinced that innovative battery concepts will play a decisive role in future product developments. BTRY’s material and process innovations promise an all-solid-state battery solution with highly interesting unique technological features that open up a wide range of applications. I am very much looking forward to working with the BTRY team and supporting the company in its upcoming growth phase.”

Florian Dünner, Investment Manager at Zürcher Kantonalbank, emphasized their commitment to supporting innovative startups like BTRY and recognized the startup’s potential in the battery technology sector. “Zürcher Kantonalbank provides innovative start-ups with venture capital. As one of the largest and most active investors in Switzerland, we have already supported over 280 start-ups with more than CHF 230 million in venture capital. With our investment in BTRY, we are investing in a well-established team with an innovative and promising battery technology. BTRY’s pitch also convinced the jury of the Büro Züri Innovationspark (made possible by Zürcher Kantonalbank) and provides the young start-up with attractive workplaces, a network of experts, free coaching from industry experts and access to potential investors.”

BTRY, founded in April 2023, has already garnered significant recognition, including a BRIDGE grant, the Empa Entrepreneur Fellowship, participation in the Swiss Business Incubator of the European Space Agency (ESA BIC), Initial and Core Coaching from Innosuisse, and two stages of Venture Kick. The startup’s innovative approach to battery technology and its potential to revolutionize energy storage have attracted strong support from investors and the startup ecosystem.

The High-Tech Gründerfonds (HTGF)