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Smoltek Nanotech Holding AB: Smoltek Receives a Total of SEK 2 Million in Funding from the Swedish Energy Agency
This press release is an English version of the previously published Swedish version, which has interpretive precedence.
Smoltek Nanotech Holding AB (publ) ("Smoltek" or the "Company") has been awarded a total of approximately SEK 2 million in funding from the Swedish Energy Agency (Energimyndigheten) to support the development of next-generation battery technologies. The funding consists of a direct grant of SEK 500,000 to Smoltek, to be carried out in collaboration with RISE Research Institutes of Sweden as a strategic research and validation partner, and approximately SEK 1.5 million through the MAXBATT consortium's five-year project, Integrated Battery Manufacturing Systems (INBATT).
The funding enables Smoltek to explore new applications of its proprietary carbon nanofiber (CNF) technology platform in advanced energy storage solutions. It also provides non-dilutive financing for these research projects.
"The funding enables us to establish a position in a strategically important growth market and creates new opportunities for innovation, complementing our core businesses in semiconductors and hydrogen," says Oskar Säfström, CEO of Smoltek.
Through MAXBATT, led by Chalmers University of Technology and including Scania, AB Volvo, Volvo Cars and RISE, Smoltek gains access to a strong collaborative ecosystem focused on the future of battery technologies and manufacturing. Through this network, the Company can accelerate technology validation, develop strategic partnerships and explore future commercialization opportunities.
The direct SEK 500,000 grant will support an initial study of battery concepts based on Smoltek's CNF technology. Together with RISE, Smoltek will evaluate how its CNF materials can address key challenges in future battery systems, including improved performance, enhanced energy and power capabilities, and further miniaturization. The collaboration also provides access to independent validation, advanced characterization capabilities and expertise that can support future industrial projects and larger funding initiatives.
In parallel, Smoltek will participate in INBATT, a five-year project within MAXBATT starting in January 2027, through which the Company will receive approximately SEK 1.5 million over the period 2027-2031. The project will explore how emerging technologies can be integrated into future battery materials, cell architectures and manufacturing processes.
"Together with research and industry partners, we will evaluate how our CNF technology can improve battery performance and generate results to support further development and commercialization," says Shafiq Kabir, Founder of Smoltek and responsible for business development in new applications.
About INBATT
Integrated Battery Manufacturing Systems (INBATT) is a new national competence center hosted by Chalmers University of Technology that aims to develop sustainable, energy-efficient, and resilient battery manufacturing systems. The center brings together 30+ partners in academia, industry, and research institutes to strengthen Sweden's battery production capabilities and support electrification. Funded by the Swedish Energy Agency with approximately SEK 160 million over five years, INBATT will start on 1 January 2027 and contribute to both technology development and competence building.