"Massive Reutilization:" Electric Vehicle batteries find new purpose in extensive energy reserves
Aachen, Germany - Voltfang, a German specialist in second-hand battery storage, is set to expand its production capabilities with the construction of a gigafactory at its new facility in Aachen. This expansion, supported by a €15 million Series B funding round led by Dutch climate-tech investor FORWARD.one, aims to increase Voltfang's production capacity tenfold, enabling the annual output of several thousand battery storage units made from recycled electric vehicle (EV) batteries.
Founded in 2020 as a spin-off from RWTH Aachen University, Voltfang has made a name for itself by creating stationary energy storage systems based on repurposed EV batteries, representing a sustainable and circular approach to battery storage. The new facility in Aachen will evolve into a full-scale gigafactory by 2026, significantly scaling production from the current levels to meet growing demand driven by Europe's accelerating energy transition and battery storage market growth.
The funding and strategic guidance from FORWARD.one and other investors reflect confidence in Voltfang's ability to contribute to Europe's goal to lessen dependence on battery imports dominated by Asian suppliers. This scale-up aims to support carbon-neutral energy solutions for businesses and municipalities, and reduce Europe's reliance on battery storage imports from China and other Asian countries by boosting local sustainable battery storage manufacturing capacity.
The Series B funding was described as a response to an "enormous surge" in orders from the first quarter of 2023. Voltfang currently offers a range of battery energy storage system (BESS) units suitable for small and medium-sized enterprises (SMEs) to large utility-scale projects. The company has already repurposed over 6,900 EV batteries for static storage purposes, and has installed its units at one of Germany's busiest airports in Stuttgart, as well as in New Zealand, where Meridian Energy has repurposed 27 Nissan Leaf Batteries as part of a 360kWh EV charging station in Springs Junction.
Voltfang's co-founder, David Oudsandji, emphasized the need for expanding energy infrastructure in Germany and Europe to build resilience against external energy dependencies. This expansion aligns with broader European energy trends, where battery storage demand has surged dramatically, with Europe adding 17.2 GWh of new battery energy storage capacity in 2023, nearly doubling the previous year. The growth in battery storage capacity underscores the importance of local manufacturing to improve supply chain security and energy independence.
Voltfang's core technology involves creating stationary energy storage systems based on repurposed EV batteries, representing a sustainable and circular approach to battery storage. The company plans to open a new production facility in Aachen to increase scalability and produce up to 1GWh of its systems. Voltfang's founders, Afshin Doostdar, David Oudsandji, and Roman Albert, are committed to reducing Europe's reliance on battery storage from China and other Asian countries with its production facilities.
In addition to the new Aachen facility, Voltfang offers the Voltfang 2 Plus GS for utility-scale purposes, starting at 1.2MW of capacity and a discharge duration of 3.2MWh. The company aims to contribute to a carbon-neutral future for Europe by providing sustainable and locally-manufactured battery storage solutions.
[1] Voltfang Press Release, "Voltfang Raises €15 Million Series B Funding to Build Gigafactory in Aachen, Germany," March 2023. [2] FORWARD.one Press Release, "FORWARD.one Leads €15 Million Series B Investment in Voltfang," March 2023. [3] European Commission, "European Battery Alliance," accessed April 2023. [4] European Energy Storage Alliance, "Annual Market Report 2023," accessed April 2023.
- The renewable-energy industry recently witnessed a significant investment with Voltfang, a German startup, securing €15 million in Series B financing led by FORWARD.one, a Dutch climate-tech investor.
- As part of this funding round, Voltfang plans to open a new facility in Aachen, Germany, which will evolve into a full-scale gigafactory by 2026, targeting a production capacity tenfold higher than its current levels.
- The finance raised will help Voltfang reduce Europe's reliance on battery storage imports from China and other Asian countries, contributing to sustainable and locally-manufactured battery storage solutions for businesses, municipalities, and personal-finance-focused institutions.
- The construction of the new facility is supported by technology, such as data-and-cloud-computing, to enhance production efficiency, ultimately aiming to support Europe's goal of lessening dependence on battery imports.
