Voltstorage is developing the Iron Salt Battery, an alternative to lithium-ion batteries. It aims to provide a sustainable, cost-effective, and safe solution for long-term storage of wind or solar energy. Founded in 2016, the startup has already won over various investors with its work and raised a total of over €35 million in several financing rounds. The startup also secured a €30 million venture debt loan from the European Investment Bank (EIB).
Most recently announced the companyto begin the next development phase, which includes a twentyfold performance increase of its solution. The implementation of fully automated test systems, an enhanced battery health management system, a defined form factor concept, and a higher technology readiness level (TRL) are also part of the concept of the development stage that has now begun.
In this situation, the current CEO and co-founder, Jakob Bitner, is now stepping down and handing over to Volker Schulte. Schulte has held various leadership positions in the energy sector. These include companies such as Cellcube, which also relies on flow battery technology, as well as other companies of varying sizes such as GE Energy, Aggreko, and the Silicon Valley startup Lightsail Energy. Since 2013, Schulte has lived and worked in the USA and the UK. With this international experience and technical expertise, he will support Voltstorage in strategically exploiting the growing market opportunities in the renewable energy sector and advancing the commercialization of iron salt battery technology.
Volker Schulte says:
"I'm delighted to be joining Voltstorage at this exciting time. The company has developed a groundbreaking energy storage solution that has the potential to revolutionize the energy sector. My focus will be on scaling this innovative technology and driving growth, helping to make Voltstorage's vision for a clean energy future a reality."
“The perfect time to take the company to the next phase”
Schulte succeeds Jakob Bitner, who served as CEO of the startup since its founding in 2016. He played a key role in establishing the company and shaping its goal of making renewable energy available around the clock. He played a key role in initiating the development and production of energy storage solutions based on flow battery technology for private and commercial applications. He was also instrumental in preparing the company for Iron salt battery technology and advance them to their current level of maturity. Jakob Bitner will remain closely involved with Voltstorage to ensure a smooth transition of leadership.
Jakob Bitner explained:
"Voltstorage is in a very good position for international expansion. I am confident that Volker Schulte is the right person to lead the company forward. With the business developing positively and global opportunities emerging, this is the perfect time to lead the company into its next phase."
