Voltstorage aims to make an important contribution to the energy transition with its iron-salt battery technology. The startup is working on long-term storage systems specifically designed for long charging and discharging periods. They are intended to be able to bridge supply gaps of up to 100 hours. This distinguishes them from common models such as car batteries, which have short charging cycles. Furthermore, iron and salt are common raw materials that can be easily extracted – unlike lithium or cobalt, which are currently used in many batteries.
With these long-term storage systems, Voltstorage aims to enable wind and solar farm operators to cost-effectively bridge supply gaps during periods of low wind and sunshine. This will ensure that renewable energy sources ensure base load coverage and, in the future, provide energy just as weather-independently as oil and gas.
The Munich-based startup has now received 30 million euros in the form of a venture debt loan from the European Investment Bank. The loan is secured by the EU facility "InnovFin – Demonstration projects in the energy sectorVoltstorage plans to invest the money in research, development and innovation, as well as in a new factory.
“Voltstorage has the potential to be a game changer for renewable energies”
Ambroise Fayolle, EIB Vice-President responsible for the Bank’s financing operations in Germany, said:
"The EIB supports innovative and sustainable advance technologies developed and manufactured in the European Union, especially storage technologies. Voltstorage's technology has the potential to be a game-changer for renewable energies. It could make supply as reliable as it once was with oil and gas – around the clock. We are happy to be involved with this promising startup."
And Jakob Bitner, CEO and co-founder of Voltstorage, explains:
"We are thrilled that the EIB is supporting us in our mission to provide cost-effective and sustainable energy storage solutions to businesses and communities worldwide. This financing will allow us to fully focus on developing and commercializing our innovative solutions and expand our production capacity to meet growing demand. This brings us closer to our goal of making renewable energy available 24/7 via sustainable batteries and contributing to a more sustainable and resilient energy future."
