Voltstorage raised one million euros in just ten days via the crowdinvesting platform Wiwin. The Munich-based company develops and produces energy storage systems for private households.
The power storage systems of Voltstorage are based on vanadium redox flow technology and do not contain any rare materials or conflict minerals. They are fully recyclable, non-flammable, and can be charged and discharged as often as needed without loss of capacity. In private households, the storage systems are intended to make solar power available throughout the day.
The company, founded by three TUM graduates Michael Peither, Jakob Bitner, and Felix Kiefl, originally targeted a funding sum of €700,000. After the campaign was significantly oversubscribed after just a few days, the startup and the investment platform Wiwin agreed to increase the funding goal. Wiwin founders Matthias Willenbacher says:
"Voltstorage is one of Germany's most innovative greentech companies, pursuing an extremely exciting approach in a key technology of the energy transition. Energy storage is absolutely essential for the transition to 100 percent renewable energy. The investors understand this—and with their investment, they are sending a clear signal for greater sustainability and climate protection."
“Success of the crowdinvesting campaign confirms high demand”
The Munich-based company plans to invest the capital from the crowdinvesting round in expanding the series production of its energy storage system. The Voltstorage CEO Jakob Bitner says:
"We are very pleased with the success of the crowdfunding campaign. The strong commitment of private investors confirms what we have learned in numerous discussions with customers and specialist partners: There is a high—and steadily growing—demand for an environmentally friendly and resource-saving energy storage alternative. With our VRF energy storage systems, we can meet this demand and realize a technological market expansion."
The founding team says they are currently in promising negotiations with institutional investors. According to Bitner, these investors are willing to support the startup's long-term growth strategy.
