VoltR raises €4 million to industrialise the refurbishment of lithium batteries in Europe
ANGERS, France, June 24, 2024 /PRNewswire/ -- VoltR, a French manufacturer of French sustainable lithium batteries, has raised €4 million to industrialise its processes. For this seed funding round, the Deeptech was able to count on C4 Ventures, Exergon, Pays de la Loire Participations and Anjou Amorçage, among others.
VoltR will continue to develop its pilot plant, industrialise its refurbishment processes, carry out research and development and recruit new talents. A Series A funding round of several tens of millions of euros has already been launched and is expected to close by Q4 of 2024.
Responding to ecological challenges and those concerning European sovereignty
The transition of the energy and industrial sectors – and in particular the electrification of uses – is driving growing demand for batteries. But since raw materials such as lithium are required to produce them, this demand also leads to considerable energy and water consumption. The carbon footprint generated by producing a classical battery is much greater than a refurbed product. That's why VoltR's mission is to maximise the value of batteries by putting them to new uses.
Sustainable batteries with high performance
Founded in 2022, VoltR has developed technologies and processes based on artificial intelligence for characterising, reallocating and reproducing batteries. VoltR manufactures batteries for a variety of applications from used products that retain 80% of their storage capacity on average. Meeting the same quality and capacity expectations as new batteries, their performance sometimes exceeds that of new products.
"Our aim is to build a European circular economy for lithium batteries in order to minimise their environmental impact. The largest lithium deposit is not buried within mines, but rather found in our homes," says Alban Regnier, President and founder of VoltR.
VoltR has raised a total of €2 million in seed capital. The start-up has received support from C4 Ventures and Exergon, among others. VoltR has also received funding from Pays de la Loire Participations and Anjou Amorçage and has secured a further €2 million as a combination of debt and grants.
Camille Bouget / [email protected]
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