VoltR Secures $4M for Lithium Battery Refurb

 

VoltR, a French company specializing in sustainable lithium batteries, has successfully raised €4 million to further develop its processes. This seed funding round received support from various investors including C4 Ventures, Exergon, Pays de la Loire Participations, and Anjou Amorçage.

Moving forward, VoltR will focus on expanding its pilot plant, streamlining its refurbishment processes, conducting research and development, and hiring new talent. Additionally, a Series A funding round with a target of several tens of millions of euros has already been initiated and is expected to conclude by the fourth quarter of 2024.

VoltR's efforts are driven by the need to address ecological challenges and promote European sovereignty. As the energy and industrial sectors transition, there is a growing demand for batteries, particularly in the context of electrification. However, the production of batteries, which relies on raw materials like lithium, consumes significant amounts of energy and water. Traditional battery production also contributes to a larger carbon footprint compared to refurbished batteries. VoltR aims to maximize the value of batteries by repurposing them, thereby reducing their environmental impact.

Founded in 2022, VoltR has developed advanced technologies and processes that utilize artificial intelligence to assess, reallocate, and reproduce batteries. The company manufactures batteries for various applications using used products that retain an average of 80% of their storage capacity. These refurbished batteries not only meet the same quality and capacity standards as new batteries but often surpass them in performance.

Alban Regnier, President and founder of VoltR, emphasizes the company's mission to establish a European circular economy for lithium batteries, minimizing their environmental impact. He highlights that the largest lithium deposit is not found in mines but rather within our own homes.

More Information : https://www.techdogs.com/tech-news/pr-newswire/voltr-raises-4-million-to-industrialise-the-refurbishment-of-lithium-batteries-in-europe