Swiss company Libattion, specializing in stationary energy storage systems using recycled electric vehicle batteries, announced it has secured 14 million euros in funding from a consortium of investors. The investment will bolster Libattion’s global footprint and enhance operations across Europe and beyond.
The funding round saw participation from prominent investors including the A&G Energy Transition Tech Fund, Spanish automotive supplier Teknia, Portuguese fund HCapital New Ideas II, and Swiss energy provider EBL.
Libattion, known for its “e-Racks” storage systems, aims to deliver sustainable and cost-effective battery technology to reduce reliance on critical resources and support industry decarbonization efforts. The company utilizes proprietary algorithms and power control systems to optimize the performance of remanufactured electric vehicle batteries in its storage units.
CEO and co-founder Stefan Bahamonde emphasized, “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 Libattionâs strength and resilience, as well as of our enormous potential for future growth.”
Based in Zurich, Libattion manufactures modular energy storage systems ranging from 97 kWh to 60 MWh in capacity, designed to meet diverse energy storage needs.
