The German developer and producer of solar ESS for private homes VoltStorage GmbH can now rely on the expertise of three additional renowned investors.
While the previous funding companies SOSV, Energie360° and Business Angels participated again in this investment round, the Belgian investment company Korys, innovation driver for sustainable energy EIT InnoEnergy and the venture capital company Bayern Kapital joined with another €6M.
According to VoltStorage, the investment capital will be used to expand the series production of their signature product, lithium-free, completely recyclable and capacity-stable home batteries. The company plans to double its team and triple the production space by the end of 2021. Development, production and quality assurance are situated in Munich.
“We are glad to complete a future-oriented financing in the current market environment. With the support of the new investors, we can pursue our long-term growth strategy with greater impact. We are convinced that energy storage systems are essential for the energy transition to 100 percent renewable energies. The strong demand for our eco-friendly home batteries encourages us to realize an absolutely necessary technological market expansion with Redox Flow based product innovations – and to become the leading supplier of lithium-free energy storage systems within the next two years,” explains VoltStorage CEO Jakob Bitner.
In 2018, the energy storage solution of VoltStorage was awarded as one of the most innovative developments at the EES Europe.
Source & Image: VoltStorage
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