The power storage systems from Voltstorage are based on vanadium redox flow technology and operate without rare materials and conflict raw materials. They are fully recyclable, non-flammable, and can be charged and discharged as many times as needed without losing capacity. With the development of iron-salt technology, the Munich startup aims to set new standards in the field of long duration energy storage – providing durable storage solutions for wind and solar farms.
The Munich startup was founded in 2016 by TUM graduates Jakob Bitner, Michael Peither, and Felix Kiefl. The three founders pursue a multi-technology approach: Voltstorage develops and manufactures commercial storage systems based on vanadium redox flow technology for agricultural and commercial enterprises. In addition, the international development team is working on the iron salt battery, which is highly suitable for ensuring baseload capability for wind and solar farms due to its properties.
Making product offerings more sustainable
Over the past five years, Voltstorage has already received capital in several funding rounds. Now, US-based Cummins is also joining Voltstorage’s growth plans. Jennifer Rumsey, president and COO of Cummins, comments on the current funding round:
“Cummins is steadfastly committed to a more sustainable and environmentally friendly world, and we are proud to actively support Voltstorage in achieving its goals. Our zero-emissions target is an integral part of all our technology, growth, business, and investment decisions, which is why we will continue to work toward making our product offerings more sustainable. Through our investment in Voltstorage, we are making an important contribution to paving the way for more environmentally friendly storage of renewable energy. Because only through collaboration can we address climate change. That is why we will continue to invest in environmentally friendly energy solutions to make a positive contribution for our customers, our environment, and future generations.”
The fresh capital is to flow into the development of larger-scale redox flow storage systems for commercial and agricultural operations. Work on iron-salt technology is also to be intensified further, and product development is to be accelerated. Voltstorage plans to significantly expand its team and further expand business operations.
Forward-looking investment
Voltstorage CEO Jakob Bitner says:
“With Cummins, Voltstorage gains a long-term oriented investor with deep understanding of our products, the market, and our corporate strategy. With this forward-looking investment, we will be able to pursue Voltstorage’s product and corporate development with even greater momentum. It is now undisputed: power storage systems are essential for converting electricity supply to 100 percent renewable energy. With the newly acquired funds, Voltstorage will be able to provide the technologies necessary for this.”
