Previously the company had warned: “In the event the group is unable to raise funds, the group will run out of funds.” The date cited was late Q1 2025.
“In 2024, Nyobolt started earning revenues from customers and had contracts valued over $120million,” says a Nyobolt statement, “we will be announcing further contracts in the first quarter of 2025.
“Looking ahead, we continue to raise funds with both current and strategic investors, with the next round closing imminently, which will see us through 2025 and into profitability,” says the company.
Last year, the company demo-ed an EV (pictured) with a 155-mile range that could charge from 10pc to 80pc in five minutes.
Nyobolt says it’s in talks with eight car manufacturers about using its technology in an electric supercar.
In 2022, the Vietnamese mining company Masan Group led a £50 million funding round in the company.
In 2023, the last available accounts for Nyobolt, it made a loss of £20 million on revenue of £67,000.
