Upcycled energy storage: Zurich-based Libattion raises €14 million aiding industry decarbonisation

Libattion, a fast-growing, leading-edge company offering stationary energy storage solutions from upcycled electric vehicle batteries based in Zurich, has secured a total of €14 million. The round was led by A&G Energy Transition Tech Fund together with Spanish automotive components manufacturer Teknia, the Portuguese fund HCapital New Ideas II and Swiss energy utility company EBL.

This significant investment reflects the increasing demand for green battery storage systems across Europe. Libattion aims to provide the market with sustainable and cost-effective battery technology, reducing the import of critical resources and contributing to the decarbonisation of various industries.

The company is known for its unique algorithms and power control systems that extend the service life of upcycled batteries, ensuring their performance matches that of new batteries. Libattion’s innovative energy storage systems, called “e-Racks,” cover a wide range of capacities, from 97 kWh to 60 MWh, offering modular and versatile solutions. These systems provide energy flexibility services such as frequency control, peak demand reduction, and fast EV charging. They are also ideal for supporting critical infrastructure and hybridising renewable assets to store surplus energy.

Stefan Bahamonde, Libattion’s CEO and co-founder stated: “We strongly believe in the transition from electric car batteries to stationary systems as an alternative energy storage system. We are very pleased to have strong partners on board who will help us achieve the next milestones. The successful investment round is a clear indicator of Libattion’s strength and resilience, as well as our enormous potential for future growth. The arrival of new partners will allow us to significantly increase our global presence, expanding our operations both in Europe and globally. We are determined to revolutionize the way in which the efficient use and reuse of batteries is managed, thus driving the transition to a more sustainable and energy-efficient future.”

Juan Diego Bernal, Managing Director of A&G Energy Transition Tech Fund, highlighted: “Libattion has all the key ingredients to become the European benchmark in its market. Its technology is on the right path to solving two major problems of the energy transition: providing an economic alternative to the growing problem of waste from electric vehicle batteries and offering an optimal supply alternative for stationary energy storage.”

Alejandro Deleyto, Director of Strategy at Teknia, said: “This investment fits perfectly with Teknia’s strategic plan, which is firmly committed to sustainability as a key pillar in our business as a manufacturer of mobility components.”

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