UK company record
Faradion
Sodium-ion battery cell technology for grid-scale and EV energy storage
VerifiedCore UK
Snapshot
- UK location
- Sheffield · Yorkshire and The Humber
- Sector
- Climate / energy / cleantech
- Latest recorded round
- Acquisition completion (buyout to 100%)
- Latest recorded amount
- undisclosed (buyout of remaining ~8% minority stake)
- Date
- 2024-10-28
Legal-identity layer
Verified identity.
- Selected legal name
- FARADION LIMITED
- Company number
- 07338748
- Companies House status
- active
- Incorporated
- 2010-08-06
Investors
- Mercia's managed funds (incl. Finance Yorkshire Seedcorn Fund)Lead
- Not singularly identifiedLead
- Finance Yorkshire, Rising Stars Growth Fund, Haldor Topsoe A/S, an unnamed Japanese electronics companyParticipant
- Mercia TechnologiesLead
- Finance Yorkshire Seedcorn Fund, Haldor Topsoe A/SParticipant
- Reliance New Energy Solar Ltd (Reliance Industries subsidiary)Lead
- Reliance New Energy LtdLead
Current directors and active controllers
- MASHRUWALA, SanjayCurrent director
- RAMAKRISHNAN, SriramCurrent director
- SAYERS, Ruth, DrCurrent director
- VARGHESE, SajiCurrent director
- WRIGHT, Christopher John, DrCurrent director
- AGARWAL, Saurabhdirector
- ANDERSEN, Christiandirector
- BARKER, Jeremydirector
- BERNS, Lawrence Owendirector
- BIRKWOOD, Oliver Jamessecretary
- DIXEY, Andrewsecretary
- DIXEY, Andrew Rogerdirector
- Enterprise Ventures ( General Partner Fy Seedcorn) LimitedFormer controller
- Enterprise Ventures (General Partner Fy Seedcorn) LimitedFormer controller
- Enterprise Ventures LimitedFormer controller
- Enterprise Ventures LimitedFormer controller
- Finance Yorkshire Seedcorn Limited PartnershipFormer controller
- HANSEN, Oledirector
- JEPPESEN, Tore Sylvesterdirector
- KUMARASWAMY, Ashwindirector
- MASSIN, Francis Marie Josephdirector
- NARAYANA, Balnadudirector
- OSTERMANN, Christophdirector
- QUINN, Jamesdirector
- Reliance Industries LimitedFormer controller
- SCHWEIZER, Hermanndirector
- THOMPSON, Ian, Drdirector
Funding rows
- Seed (managed funds; amount undisclosed)undisclosed · 2010-01-01
- Growth funding~£2m ('almost £2 million') · 2015-02-26
- Series B (explicitly labeled by contemporary press)£3.2m syndicate (Mercia's direct tranche up to £1.9m: £1.3m initial + £600k milestone-based) · 2017-01-18
- Acquisition (majority, ~92%)£100m enterprise value (plus separate £25m growth-capital commitment, ~$34m) · 2022-01-05
- Acquisition completion (buyout to 100%)undisclosed (buyout of remaining ~8% minority stake) · 2024-10-28
Sources
- https://www.mercia.co.uk/casestudy/faradion/
- https://www.bestmag.co.uk/british-na-ion-start-faradion-gets-funding-boost/
- https://www.finsmes.com/2017/01/faradion-raises-3-2m-in-series-b-funding.html
- https://www.uktech.news/news/investment-news/sheffield-based-faradion-raises-1-3m-from-mercia-technologies-20170118
- https://bdaily.co.uk/articles/2017/01/18/sheffield-tech-firm-faradion-to-receive-19m-investment-from-mercia-technologies
- https://faradion.co.uk/new-direct-investment-in-faradion-limited/
- https://faradion.co.uk/reliance-new-energy-solar-to-acquire-faradion-limited/
- https://www.insidermedia.com/news/yorkshire/battery-technology-firm-acquired-in-100m-deal
- https://www.electrive.com/2022/01/18/reliance-takes-over-faradion-for-100-million/
- https://mercia.co.uk/completion-of-the-sale-of-faradion
- https://www.energy-storage.news/non-lithium-alternatives-reliance-completes-sodium-ion-acquisition-amazon-tries-membrane-free-flow-battery/
- https://www.uktech.news/news/investment-news/sheffield-based-faradion-raises-1-3m-from-mercia-technologies-20170118
- https://bdaily.co.uk/articles/2017/01/18/sheffield-tech-firm-faradion-to-receive-19m-investment-from-mercia-technologies
- https://faradion.co.uk/new-direct-investment-in-faradion-limited/
- https://www.insidermedia.com/news/yorkshire/battery-technology-firm-acquired-in-100m-deal
- https://www.electrive.com/2022/01/18/reliance-takes-over-faradion-for-100-million/
- https://mercia.co.uk/completion-of-the-sale-of-faradion