SubSea Craft Invests Millions in UK Battery Specialist LORILLION, Acquiring 40% Stake
LORILLION, a Coventry-based engineering and R&D company, has received a multi-million-pound investment from Portsmouth-based maritime technology company SubSea Craft.
LORILLION develops custom electrification solutions and clean-energy technologies. As part of the deal, SubSea Craft has acquired a 40% stake in LORILLION.
The investment will help strengthen the UK’s ability to design, develop and manufacture specialist battery systems for the defence, marine and automotive industries.
Richie Frost, CEO of LORILLION, said, “Our strategic partnership with SubSea Craft will accelerate the development of key battery technologies and a dedicated battery-pack manufacturing capability, enabling a vital end-to-end sovereign capability in the UK.
“This investment allows us to expand our engineering team, accelerate our proprietary technology and provide customers with a complete route from initial battery concept through design, development and testing, to certified production. It represents a major step forward for LORILLION and for the UK’s ability to develop advanced battery systems for defence, marine and other demanding applications.”
Founded in 2023, LORILLION develops battery systems for the defence, marine, aerospace and automotive industries. The company focuses on quickly developing custom battery solutions for demanding and highly regulated applications.
LORILLION provides end-to-end services, covering everything from early-stage ideas and product design to testing, certification and production.
With its new funding, the company plans to grow its engineering team to more than 70 employees. It will also speed up the development of its own battery-management technology and support a new production facility in the Midlands, which is expected to open next year.
Founded in 2014, SubSea Craft (SSC) develops maritime technology for defence and amphibious forces. The company focuses on creating advanced solutions through research, rapid prototyping and software-based designs.
SSC develops modular and adaptable platforms that can operate in challenging environments. Its technologies support both manned and unmanned operations across underwater, surface and air environments.
The company manages its development process in-house, from early concepts and engineering to testing, manufacturing and ongoing support. This allows it to develop and deliver new technologies more quickly.
One of SubSea Craft’s key platforms is VICTA, an advanced maritime vehicle that can travel at high speed on the surface and quickly switch to underwater operation. It is designed to secretly transport military personnel or equipment.
VICTA is the first in a series of multi-domain platforms designed to support different types of covert military operations. As part of the investment, LORILLION is developing a custom battery system for the VICTA vessel. The battery will be designed to operate at depths of more than 50 metres.
Camilla Martin, Chief Executive Officer of SubSea Craft, said, “Modern defence capability is only as resilient as the industrial base behind it. Our investment in LORILLION is about more than securing batteries. It is about securing the engineering knowledge, manufacturing capability and freedom of action required to develop and sustain strategically important British technology.”
“For VICTA, the battery is not a commodity component. It is a mission-critical system. Having a UK design and manufacturing partner working directly alongside our engineering teams will allow us to accelerate development, maintain control of performance and strengthen the resilience of our supply chain.”