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Libattion, an innovative company at the forefront of the stationary energy storage sector, is making waves from its Zurich base with cutting-edge solutions derived from upcycled electric vehicle batteries. The company has recently amassed a substantial €14 million in funding. This impressive round was spearheaded by A&G Energy Transition Tech Fund, alongside contributions from Spanish automotive component giant Teknia, Portuguese fund HCapital New Ideas II, and Swiss energy utility EBL.
The considerable investment underscores the surging demand for eco-friendly battery storage solutions throughout Europe. Libattion is poised to revolutionize the market by offering sustainable, cost-effective battery technologies that curb the dependency on imported critical resources, thereby advancing the decarbonization of various industries.
Renowned for its proprietary algorithms and advanced power control systems, Libattion extends the service life of repurposed batteries, ensuring their performance rivals that of brand-new units. The company’s state-of-the-art energy storage systems, dubbed “e-Racks,” boast a diverse range of capacities from 97 kWh to a staggering 60 MWh. These modular and adaptable solutions provide critical energy flexibility services, including frequency regulation, peak demand management, and rapid EV charging capabilities. Moreover, they are ideally suited to bolster critical infrastructure and enhance renewable energy systems by storing excess power, promoting a more resilient and sustainable energy landscape.
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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