Libattion, a pioneering company at the forefront of stationary energy storage solutions utilizing upcycled electric vehicle batteries, has successfully secured a substantial funding of €14 million. This significant investment marks a new chapter in the company’s growth and its ongoing dedication to transforming the energy storage landscape.
The funding round was led by A&G Green Energy Transition Tech Fund, an organization committed to supporting sustainable energy initiatives. Joining forces with A&G were Teknia, a renowned Spanish automotive components manufacturer, HCapital Partners New Ideas II, a Portuguese fund with a focus on innovative ventures, and EBL, the Swiss energy utility company.
With this substantial capital injection, Libattion is poised to drive innovation and further enhance their cutting-edge technology. Their ground-breaking energy storage solutions, based on repurposing electric vehicle batteries, offer a sustainable and cost-effective alternative for meeting the growing demand for stationary energy storage.
By repurposing lithium-ion batteries from electric vehicles, Libattion introduces a transformative approach to energy storage. Their solutions not only provide an environmentally friendly mode of recycling but also offer a valuable solution to the challenge of storing intermittent renewable energy.
Libattion’s commitment to revolutionizing the energy storage market aligns with a global shift towards sustainable practices and the need for reliable renewable energy storage solutions. With the support of key strategic partners and this substantial funding, Libattion is well-positioned to surpass industry expectations and make a lasting impact on the future of energy storage.
Overall, the €14 million funding secured by Libattion signifies a significant step forward in accelerating the adoption of sustainable energy storage, reinforcing the company’s position as a pioneering force in the industry. With their innovative solutions and strong partnerships, Libattion is poised to transform the energy storage landscape and contribute to a more sustainable future.