Successful financing round for Voltstorage: the Munich startup has secured an investment of 6 million euros. The fresh capital will be used to expand the series production of Voltstorage home storage systems, to develop larger redox flow storage systems for commercial, agricultural, and residential areas, and to continuously develop redox flow storage technology. The Munich-based startup plans to double its team by the end of 2021 and triple the space at its Munich headquarters.
Leading provider of lithium-free storage systems
"We are pleased to have secured forward-looking financing in the current market environment. With the support of the new investors, we can pursue our long-term growth strategy with greater vigor. We are convinced that energy storage is essential for the transition to 100 percent renewable energy. The strong demand for our ecological energy storage systems encourages us to realize a much-needed technological market expansion with redox flow-based product innovations – and to become the leading provider of lithium-free storage systems in the next two years."
says CEO Jakob Bitner to the current investment.
Over the past three years, Voltstorage has seven-figure financing from SOSV, Energie 360° and business angels around Matthias Willenbacher, who also participated in this investment round.
Impressed by the competence of the Voltstorage founders
In addition, the young company can now also draw on the expertise of new investors in the technology and energy sectors: The investment company Korys belongs to the Belgian Colruyt family and invests in energy transition projects.
Loïc de Schaetzen, Investment Director at Korys, supports the company's vision as lead investor and part of the Voltstorage board:
"We had been planning to invest in a battery technology company for some time. With Voltstorage, we've now found what we were looking for. We were particularly impressed by the expertise and dedication of the three founders, who have succeeded in building an international team of experts in battery technology, IT, electronics, and product development, and in bringing the Voltstorage smart home storage system to market in a very short time."
Founded in 2016 by TUM graduates Jakob Bitner, Michael Peither, and Felix Kiefl, the startup develops and produces solar power storage systems for private homes. Voltstorage relies on vanadium redox flow (VRF) storage technology. Thanks to this technology, Voltstorage's power storage systems are free of rare raw materials, fully recyclable, 100 percent non-flammable, and can be charged and discharged as often as needed.
