Libattion Raises EUR 14M to Expand EV Battery Recycling

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Libattion Raises EUR 14M to Expand EV Battery Recycling

Posted by: Baris Karapinar
Category: ESG News

Swiss start-up Libattion has secured EUR 14 million (USD 15m) to expand its business. The funding came from four investors: A&G Energy Transition Tech Fund, Teknia, HCapital New Ideas II, and EBL.

Libattion repurposes electric vehicle (EV) batteries to create long-lasting energy storage solutions using unique algorithms and power control systems. This technology addresses EV battery waste and offers a sustainable energy storage option.

Libattion’s energy storage systems, called e-Racks, range from 97 kWh to 60 MWh. These modular systems can be used for frequency control, peak demand reduction, fast EV charging, or in combination with renewable energy sources.

The new investment will help Libattion increase its global presence and expand operations in Europe and beyond. This successful funding round highlights the company’s strength and growth potential.

The investors’ support will enable Libattion to reach new milestones and solidify its position in the market. The company is focused on solving key challenges in the energy transition and promoting sustainable energy solutions.

Link to the news source

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