Pays de la Loire, France-based VoltR, a company that specialises in the second life of lithium batteries, announced recently, its first fundraising of €4M from C4 Ventures and Exergon, among others.
Others include Pays de la Loire Participations, Anjou Amorçage, as well as the network of the Chamber of Commerce and Industry (CCI) of the region.
The company is planning a new Series A funding round at the end of the year.
The French company will use the initial funding to finance the development of its first lithium battery reconditioning plant, R&D, and the recruitment of new talents.
The first production line was inaugurated in Angers one year before in the presence of Christophe Béchu, Minister of Ecological Transition and Territorial Cohesion.
VoltR intends to finance the construction of its first lithium battery reconditioning plant within two years.
The proposed 5,000-square-meter automated facility, which could be situated in the Pays de la Loire region, will be capable of reconditioning 2 million battery cells annually and will employ approximately 100 people, says the report.
VoltR: Providing second life to old lithium batteries
Founded in 2022 by Alban Régnier, François Mallet, Maxime Bleskine, and Thibaud Maufront, VoltR is a French manufacturer specialising in the reconditioning of lithium batteries.
The French company manufactures batteries that offer the same performance as new batteries (quality, capacity, durability) while considerably reducing their carbon footprint through the use of reconditioned cells.
The company disassembles end-of-life batteries to extract the cells, which are tested (using AI and modeling) for their health status and used to manufacture remanufactured batteries.
The company’s mission is to exploit the full potential of waste battery deposits through the creation of a circular battery economy.
Read the orginal article: https://siliconcanals.com/news/startups/french-startup-voltr-gets-4m/
