Libattion funding news – Zürich-based Libattion Raises €14 Million in Funding

It creates cutting-edge energy storage devices known as "e-Racks," with a broad range of capacities ranging from 60 MWh to 97 kWh. Companies can use the energy flexibility services that the storage systems offer, including peak demand reduction, frequency management, and quick charging for electric vehicles.

Because of this, the batteries are ideal for powering essential infrastructure, including hybridising renewable resources to store excess energy. In addition, Libattion provides special algorithms and power management systems that increase the usable life of repurposed batteries while maintaining technical parity with brand-new batteries.

CEO and co-founder Stefan Bahamonde said, "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. We are determined to revolutionise the way in which the efficient use and reuse of batteries is managed, thus driving the transition to a more sustainable and energy-efficient future."

Along with the Portuguese fund HCapital New Ideas II, the Swiss energy utility business EBL, the Spanish automotive components producer Teknia, and the A&G Energy Transition Tech Fund led the round.

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Juan Diego Bernal, managing director of A&G Energy Transition Tech Fund, highlighted that Libattion has all the key ingredients to becoming the European benchmark in its market: "Its technology is on the right path to solving two major problems of the energy transition: on the one hand, it provides an economical alternative to the growing problem of waste from electric vehicle batteries and, on the other hand, it offers an optimal supply alternative for stationary energy storage."

About Libattion

Libattion specializes in manufacturing more sustainable Energy Storage Systems, aiming to expedite the global transition to a greener future. Leveraging innovative battery testing technology and a commitment to the circular economy, Libattion delivers high-quality, cost-effective, and safer Upcycled Energy Storage Systems for various industries.