With its technology, Stabl Energy divides high-voltage battery packs into many smaller modules and interconnects them dynamically. the startup Eliminating risks when used electric vehicle batteries are used in battery storage systems. This gives used batteries a second life in the spirit of the circular economy. The Munich-based company's second-life battery storage systems are intended for use primarily by commercial and industrial customers, in the construction and real estate industries, and in the agricultural sector.
With Northern European Growth Funds from Nordic Alpha Partners and the European Innovation Council (EIC), two new investors are joining Stabl Energy's investors in the now completed financing round. Existing investors such as UVC Partners and Energie 360 also participated again in the round.
Svetoslava Georgieva, Chair of the Board of Directors of the EIC Fund, stated:
"The EIC Fund is committed to supporting the green and digital transition. It invests in companies that are able to provide cutting-edge technologies for this transformation and are able to scale their business model."
Stabl Energy now wants to expand the solution commercially
With this financing round, Stabl Energy has laid the foundation for both commercial expansion and further development of its battery storage technology architecture. The startup's agenda now focuses on growth. Arthur Singer, Co-CEO and Co-Founder of Stabl Energy, says:
"We've made significant progress in a short time and successfully installed our first second-life battery storage systems. The right products, experience, and partners are key to success. Nordic Alpha Partners has an impressive track record as a VC and a unique approach to growing startups. We're excited about this partnership."
Nam Truong, also Co-CEO and co-founder, adds:
"We are pleased to have gained a strong and experienced partner in Nordic Alpha Partners for the coming years, one that shares our philosophy and vision. These new partnerships represent an important milestone for Stabl in driving the energy transition through battery storage."
John of Borries from the existing investor UVC Partners praises Stabl Energy’s approach:
"Stabl solves two important problems for the energy transition: First, the technology enables the construction of highly efficient and cost-effective storage systems. Second, it makes used car batteries usable, thus extending their service life by many years in the spirit of the circular economy. This significantly reduces the batteries' carbon footprint and conserves resources."
