A division of the conglomerate, Masan has invested 45 million pounds ($53 million) in British fast-charging battery maker Nyobolt Limited for a 15 percent stake.

H.C. Starck Tungsten Powders, a subsidiary of Masan High-Tech Materials, said Friday that the investment is a milestone in the company’s strategy to get closer to consumers by developing new and innovative applications.

The investment makes up the bulk of Nyobolt’s Series B financing round, the company added.

Nyobolt is commercializing lithium-ion batteries, which can be charged 90 percent in five minutes.

According to Nyobolt, the batteries have 10 times the energy density of their conventional counterparts, while being smaller and lighter and 10 times more durable than other lithium-ion batteries.

H.C. Starck Tungsten Powders, a German company, is a manufacturer of high-quality tungsten powder that employs about 540 people at three production sites in Germany, Canada, and China.