Swedish BatteryTech startup Holyvolt acquires US battery materials firm Wildcat in €63.1 million deal

Holyvolt, a Swedish battery technology firm, has completed the acquisition of California-based battery materials development company Wildcat Discovery Technologies in a €63.1 million (£73 million) deal composed of cash, equity, and deferred milestone-based payments. 

The combination creates a group with end-to-end capability from molecular discovery to pilot-scale production using a fully integrated High Throughput Platform. This integration aims to eliminate the bottlenecks that have traditionally separated laboratory breakthroughs from commercial reality.

“The acquisition of Wildcat is a perfect complement to our intended strategy of developing new technologies for the battery industry. Holyvolt is focused on developing new processes to make batteries cleaner and more affordable, and Wildcat has been pursuing the same goals via materials development and better chemistry. Combined, we are building what we believe is the most compelling technology to deliver on these objectives,” said  Mathias Ingvarsson, founder & CEO, Holyvolt. 

Founded in 2022, Holyvolt develops and commercialises innovative energy production and storage products. Its precision screen printing and high-throughput material discovery platform enable the production of high-performance batteries and solar cells at lower cost and with reduced environmental impact, while supporting local, independent supply chains and manufacturing. The announcement follows Holyvolt’s recent €20 million funding round. 

Founded in 2006, Wildcat Discovery Technology helps customers achieve improved materials and the best possible integrated battery cell. Working with Wildcat, customers gain access to a “drug discovery-inspired” high-throughput R&D platform; novel electrolyte, anode, and cathode materials; high-quality cell manufacturing capacity of up to 20 Ah; and a pilot production line capable of manufacturing cathode powders at 100 kg scale. Wildcat plans to manufacture a portfolio of nickel- and cobalt-free cathodes in the United States. 

According to Wildcat, its proprietary High Throughput Platform (HTP) simultaneously synthesises and screens thousands of materials combinations, identifying optimal material systems up to 10 times faster than conventional R&D methods. 

The US-based company notes that its high-throughput platform is designed to generate terabyte-scale, structured materials datasets that enable the integration of machine learning and AI into battery material discovery. Going forward, this capability will accelerate optimisation cycles and significantly increase the speed and effectiveness of materials development.

“In 2025 – it felt like the West gave up. Battery plants were cancelled. Funding dried up and OEMs pulled back on off-takes. The US has blocked Chinese imports but they have no domestic alternative – so they find other ways to import. We can’t build a safe, sustainable society without access to batteries. Everyone knows that low-cost, low-carbon energy requires batteries. AI is driving an unprecedented surge in electricity demand and data centre infrastructure, making reliable energy storage more critical than ever. Automation and sustainable transportation is electric and western automakers risk being niche players. Modern warfare is becoming electric,” Holyvolt mentioned in the press release. 

According to the Swedish company, this acquisition offers the essential tools to give the West a fighting chance.

The combined entity brings together Holyvolt’s process technology based on screen-printing and water-based processes, with Wildcat’s proprietary High Throughput Platform (HTP), which can quickly generate terabyte-scale structured datasets through combinatorial experimentation. These datasets are primed for AI-driven analysis and accelerated learning. 

Holyvolt’s water-based manufacturing process and Wildcat’s modern materials work together to produce cleaner, more cost-effective batteries with lower capital needs and supply chains centred in Europe and North America. Additional improvements in performance and cost savings can be achieved through Wildcat’s cobalt- and nickel-free materials.

The joint entity will act as a technology development partner for partners and customers throughout the entire battery supply chain, offering commercialisation models such as licensing arrangements that are customised to meet each customer’s specific needs.

“The Wildcat team is thrilled with this acquisition by Holyvolt. Mathias and team are very thoughtful with regard to their objectives in the battery industry, and recognise the value that Wildcat’s High Throughput Platform can deliver to our combined company and the industry at large. With Holyvolt’s vision and financial backing, Wildcat can finally unlock the true potential of high throughput combinatorial chemistry for battery materials,” said Mark Gresser, President and CEO, Wildcat Discovery Technologies. 

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