Voltfang, a leading innovator in green energy storage solutions, announced the successful closing of its Series A financing round, raising €8 million, plus €800k in secured grants. The round was oversubscribed and led by Dutch deeptech venture capital firm FORWARD.One, with significant participation from Interzero. Existing investors in Voltfang, including PT1, AENU, Helen Ventures, Daphni, Aurum Impact (family office of Goldbeck) and Maximilian Viessmann, also invested.
The funding will be used to broaden Voltfang’s product offerings, including additional investments in its advanced Energy Management System to maximize the power of its battery storage systems. This will allow Voltfang to increase market penetration across both commercial/industrial and grid-scale applications and further strengthen the company’s market position as a pioneer in green energy infrastructure and circular economy.
“We are extremely pleased to have FORWARD.One and Interzero on board—two partners who not only bring financial commitments but also a deep understanding of our vision and mission,” said David Oudsandji, CEO and co-founder of Voltfang.
“FORWARD.One’s focus on hardware and climate tech as well as Interzero’s know-how in the circular economy align perfectly with our goals. Our new investors’ respective expertise will be invaluable as we continue to innovate and lead in sustainable energy storage,” commented FORWARD.one, the lead investor in this round, expresses strong enthusiasm for Voltfang.
Voltfang’s green and efficient energy storage solution perfectly highlights our commitment to supporting companies that tackle significant challenges through a combination of hardware and software. We see Voltfang’s batteries as essential not only in advancing
Europe’s energy transition but also in contributing to greater independence in resources and materials. We’re excited about this partnership and look forward to supporting their growth and success” says Beau-Anne Chilla, who is leading climate tech investments at FORWARD.one.
Interzero’s investment in Voltfang is aligned with its vision of a ‘world without waste’, emphasizing reuse, sustainability, and second-life concepts as crucial components in achieving zero-waste. Interzero, who will invest through its shareholders’ family office, will not only offer Voltfang circular economy know-how but also access to a broad network in the circular economy space which will add to Voltfang’s strong growth outlook.
Fabian Heilemann from AENU stated: “The European power grid is stretched and reached its limit due to rapidly increasing renewable power. To build up more transmission capacity will take time and cost billions of Euros. The easy and fast option would be to expand storage capacity, which will also support to stabilize the grids. This is exactly the reason why we invest in companies such as Voltfang, who can deliver high-performance and green storage solutions made in Europe for Europe.”
“We are proud to see significant participation in this funding round from existing investors, some of which have even increased their stake in Voltfang. This is a strong signal of confidence in our strategy and our team,” added Dr. Gerrit Janke, CFO of Voltfang. “Closing the financing round within just 3 months in a challenging environment for growth capital demonstrates the positive market perception we are experiencing.”
Voltfang’s storage systems are built using requalified electric vehicle batteries, offering a sustainable solution to the growing demands of the energy sectors. These systems help optimize energy use, reduce reliance on non-renewable power sources, and manage peak loads more effectively. The company is planning to deploy an additional 40 MWh battery capacity by 2025.
Read the orginal article: https://www.eu-startups.com/2024/10/aachen-based-voltfang-secures-e8-8-million-series-a-to-accelerate-growth-in-green-energy-storage/
