Voltstorage wants to make an important contribution to the energy transition with iron-salt battery technology. The startup is working on long-duration storage systems specifically designed for extended charge and discharge periods. They should be able to bridge supply gaps of up to 100 hours. This sets them apart from common models like car batteries, which have short charging cycles. Additionally, iron and salt are common raw materials that can be easily sourced – unlike lithium or cobalt, which are currently used in many batteries.
With these long-duration storage systems, Voltstorage aims to enable wind and solar park operators to cost-effectively bridge supply gaps during periods of low wind and sun. This way, renewable energy sources can ensure baseload coverage and in the future supply power as reliably as oil and gas, regardless of weather conditions.
The Munich startup has now received 30 million euros in the form of a venture debt loan from the European Investment Bank. The loan is backed by the EU facility “InnovFin – Demonstration Projects in the Energy Sector“. Voltstorage plans to invest the funds in research, development, and innovation as well as in a new production facility.
“Voltstorage has the potential to be a game changer for renewable energy”
Ambroise Fayolle, EIB Vice President overseeing the bank’s financing in Germany, says:
“The EIB promotes innovative and sustainable advanced technologies developed and manufactured in the European Union, especially storage technologies. Voltstorage’s technology has the potential to be a game changer for renewable energy. Supply could become as reliable as it was with oil and gas in the past – around the clock. We are pleased to be part of this promising startup.”
And Jakob Bitner, CEO and co-founder of Voltstorage, explains:
“We are excited that the EIB supports us in our mission to provide cost-effective and sustainable energy storage solutions for businesses and communities worldwide. Thanks to this financing, we can fully focus on developing and commercializing our innovative solutions and expand our production capacities to meet growing demand. This brings us closer to our goal of making renewable energy available around the clock through sustainable batteries and contributing to a more sustainable and resilient energy future.”
