# Holyvolt Raises $45 Million to Disrupt Chinese Battery Dominance Former Tesla executive Steven Prast leads a mission to develop non-Chinese battery chemistries. - **Source:** [Fortune](https://fortune.com) - **Published:** 2026-10-15 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/a7c13fb1-5d4a-4093-9034-91c67a85f831 ## Strategic Funding Round Stockholm-based startup Holyvolt has successfully raised $45 million in equity funding. This round, which values the company at $245 million, includes participation from Zone II, CC.VC, and various angel investors. The capital is earmarked to accelerate the development of alternative battery chemistries that operate independently of existing Chinese-controlled supply chains. ## The Chemistry Challenge COO Steven Prast argues that battery technology is only 10% to 20% through its maturity curve. Unlike physics-based problems governed by Moore’s Law, battery development remains a complex chemistry challenge. Holyvolt aims to discover new cathode materials rather than attempting to compete directly with China’s established dominance in NMC and LFP. ## Merging Lab and AI Holyvolt merged with San Diego-based Wildcat Discovery Technologies in a deal valued at $73 million. Wildcat’s high-throughput platform has tested over 500,000 cells across 225 projects. By integrating this physical testing data into proprietary AI models, Holyvolt creates a feedback loop that significantly accelerates the discovery of next-generation battery materials. ## Reinforcement Learning Approach CEO Mathias Ingvarsson emphasizes that Holyvolt prioritizes real-world data over purely computational models. By leveraging twenty years of reinforcement learning, the company trains AI on actual lab results to sharpen future predictions. This methodology allows the firm to refine its research processes, reportedly operating ten times faster than conventional R&D methods. ## Disordered Rocksalt Innovation The company’s primary focus is DRX, a family of disordered rocksalt cathode materials. DRX eliminates the need for nickel and cobalt while promising performance comparable to nickel-based chemistries. Holyvolt designed this material to ensure a supply chain that is entirely friendly, avoiding the geopolitical dependencies currently associated with standard battery manufacturing components. ## Regulatory Market Deadline A critical driver for this timeline is the October 1, 2027, enforcement of Section 154 of the fiscal 2024 defense authorization act. This legislation prohibits the Pentagon from purchasing batteries from six major Chinese manufacturers. Holyvolt intends to commercialize DRX by 2027, specifically targeting the unmanned aerial vehicle market for military use. ## Scalable Business Model Holyvolt does not intend to construct its own gigafactories, recognizing the immense difficulty of industrial scaling. Instead, the company is exploring licensing agreements, joint ventures, and toll manufacturing partnerships. By focusing on material innovation and intellectual property, the firm avoids the capital-intensive burdens typically associated with mass-producing battery cells at scale. ## Future Market Expansion Beyond defense applications, Holyvolt is developing formulations for the automotive sector and data centers. Data centers require high-power bursts as GPUs activate, creating a specific demand for advanced battery performance. By diversifying its target applications, the company seeks to establish a sustainable foothold in the global energy storage market. ## Sources covering this story - https://fortune.com/2026/10/15/holyvolt-funding-45-million-battery-startup-ai-sweden-michigan-prast-ingvarsson/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._