The power storage systems of Voltstorage are based on vanadium redox flow technology and do not require any rare materials or conflict minerals. They are fully recyclable, non-flammable, and can be charged and discharged as often as required without loss of capacity. With the development of iron salt technology, the Munich-based startup also aims to set new standards for wind and solar farms in the field of long-duration energy storage – i.e., long-lasting storage solutions.
The Munich-based startup was founded in 2016 by TUM graduates Jakob Bitner, Michael Peither, and Felix Kiefl. The three founders pursue a multi-technology approach with their company: Voltstorage develops and produces commercial storage systems based on vanadium redox flow technology for agricultural and commercial companies. The international development team is also working on the Iron Salt Battery, which, due to its properties, is highly suitable for ensuring baseload capacity for wind and solar farms.
Make product range more sustainable
Over the past five years, Voltstorage has already several financing rounds Capital received. The US company Cummins is now also participating in Voltstorage's growth plan. Jennifer Rumsey, President and COO of Cummins, says about the current financing round:
"Cummins is unwaveringly committed to a more sustainable and environmentally friendly world and is proud to actively support Voltstorage in achieving its goals. Our zero-emissions goal is an integral part of all our technology, growth, business, and investment decisions, which is why we will continue to strive to make our product offerings more sustainable. By investing in Voltstorage, we are now making an important contribution to paving the way for more environmentally friendly storage of renewable energy. Only by working together can we halt climate change. Therefore, we will continue to invest in environmentally friendly energy solutions to make a positive contribution to our customers, our environment, and future generations."
The fresh capital will be used to develop larger-scale redox flow storage systems for commercial and agricultural applications. Work on iron salt technology will also be further intensified and product development will be advanced. Voltstorage plans to significantly expand its team and further expand its business operations.
Future-oriented investment
Voltstorage CEO Jakob Bitner says:
"With Cummins, Voltstorage gains a long-term investor with a deep understanding of our products, the market, and our corporate strategy. With this forward-looking investment, we will be able to pursue Voltstorage's product and corporate development with even greater vigor. It is now undisputed: energy storage is essential for the transition to 100 percent renewable energy. With the newly acquired funds, Voltstorage will be able to provide the necessary technologies for this."
