Voltstorage develops the Iron Salt Battery as an alternative solution to lithium-ion batteries. It is designed to provide a sustainable, cost-efficient, and safe solution for long-term storage of wind or solar energy. Founded in 2016, the startup has already convinced various investors with its work and raised a total of over 35 million euros across several financing rounds. The startup also secured a venture debt loan of 30 million euros from the European Investment Bank (EIB).
Recently, the company announced it was beginning the next development phase, which includes a twentyfold increase in performance of its solution. Additionally, the implementation of fully automated testing systems, an enhanced battery health management system, a defined form factor concept, and a higher technology readiness level (TRL) are part of the newly launched development stage.
In this situation, former CEO and co-founder Jakob Bitner is now stepping back and handing over to Volker Schulte. Schulte looks back on various leadership positions in the energy sector. These include companies such as Cellcube, which also focuses on flow battery technology, as well as other companies of varying sizes such as GE Energy, Aggreko, and the Silicon Valley startup Lightsail Energy. Since 2013, Schulte had lived and worked in the USA and the United Kingdom. With this international experience and technical expertise, he is to support Voltstorage in strategically leveraging growing market opportunities in the renewable energy sector and advancing the commercialization of Iron Salt Battery technology.
Volker Schulte says:
“I am very pleased to join Voltstorage at this exciting time. The company has developed a groundbreaking energy storage solution with the potential to revolutionize the energy sector. My focus will be on scaling this innovative technology and driving growth. This way, Voltstorage’s vision for a clean energy future can become reality.”
“The perfect time to take the company to the next level”
Schulte takes over from Jakob Bitner, who has served as CEO since the startup was founded in 2016. He was instrumental in building the company and shaped its mission to make renewable energy available around the clock. He played a crucial role in initiating the development and production of energy storage solutions based on flow battery technology for private and commercial applications. He was also instrumental in focusing the company on the Iron Salt Battery technology and advancing it to its current level of maturity. Jakob Bitner will remain closely involved with Voltstorage to ensure a smooth leadership transition.
Jakob Bitner explains:
“Voltstorage is in a very good position for international further development. I am confident that Volker Schulte is the right person to move the company forward. As the business develops positively and global opportunities arise, this is the perfect time to take the company to the next level.”
