Milbank LLP advised leading Vietnamese conglomerate Masan Group Corporation (“Masan”), one of the country’s largest private companies, in the Series B equity funding round of fast-charging battery startup Nyobolt Limited (“Nyobolt”). Masan led the funding round through its subsidiary H.C. Starck Tungsten Powders (“H.C. Starck”), a Germany-based leading tungsten supplier.
United Kingdom-based Nyobolt is pioneering niobium and tungsten-based battery anode technology which has demonstrated superior performance over other lithium-ion batteries. This unique technology is expected to enable electric vehicles to charge within minutes. Nyobolt is working to commercialize super-fast charging lithium-ion batteries which offer long-term capacity retention, strong energy density and high heat resistance.
“The partnership between Masan and Nyobolt is a win for both companies in meeting their respective objectives for growth, but also for the country of Vietnam by contributing to its efforts to deliver on its ambitious sustainable development goals,” said Milbank partner Jacqueline Chan. “Milbank is pleased to represent Masan as it helps bring this important sustainable technology to market, and we stand ready to assist on similar cross-border investments.”
Ms. Chan led the Singapore-based Milbank deal team, which included associates Min Kim, Hua Chan and Hui-Ling Teo.
