Holyvolt

Holyvolt, a Stockholm company founded in 2022, develops battery materials with the aim of offering chemistries not controlled by China. Its first product family is DRX (disordered rocksalt) cathodes, which use neither nickel nor cobalt; commercialisation is planned from 2027, starting with defence applications (drones) and then mobility. The company does not plan gigafactories and is open to licensing, toll manufacturing or joint ventures. Its website also describes a precision screen-printing process for batteries and solar cells. Founder and CEO is Mathias Ingvarsson, formerly of Tempur-Pedic. The COO is Steven Prast, a former manufacturing leader at Tesla, and the Chief Scientific Officer is Dee Strand. On 5 March 2026 Holyvolt announced the acquisition of Wildcat Discovery Technologies, a San Diego company with an automated lab that tests battery materials in parallel: €63.1 million ($73 million) in cash, equity and milestone-linked deferred payments, according to EU-Startups. Wildcat reports more than 225 projects for more than 85 customers over 18 years, including BMW. The 'Discovery Engine' platform uses AI models trained on Wildcat's data and checked with physical tests. Besides Stockholm, the company has operations in Munich. On 15/10/2026 it announced a $45 million equity round (round type not stated) with Zone II, CC.VC and angel investors from the defence and finance industries; Fifth Wall is an earlier investor. The funds go to expanding the AI models, laboratory capacity and the scientific team, and to taking DRX cathodes towards commercial use. Earlier, in October 2024, it had announced a SEK 200 million equity A-round.