Lead investor Korys, Bayern Kapital, EIT InnoEnergy amongst all existing investors invest in Munich based greentech company.
VoltStorage GmbH, founded in 2016 by Jakob Bitner, Michael Peither and Felix Kiefl, develops and produces solar energy storage systems for private homes. VoltStorage is the world’s only home energy storage provider in the market relying on Vanadium Redox Flow (VRF) battery technology. The VoltStorage energy storage systems are free of rare raw materials, completely recyclable, 100 percent non-flammable and can be charged and discharged as often as required without losing capacity. Thus VoltStorage creates a highly demanded ecological alternative to the lithium technology. The latest product of the Munich-based company is the VoltStorage SMART home battery. In 2018, the energy storage solution was awarded as one of the most innovative developments at the ees Europe, Europe’s largest trade show for energy storage. The further development, production and quality assurance of the VoltStorage SMART are carried out in Munich – and thus “Made in Germany”.
“We are glad to complete a future-oriented financing in the current market environment. With the support of the new investors, we can pursue our long-term growth strategy with greater impact. We are convinced that energy storage systems are essential for the energy transition to 100 percent renewable energies. The strong demand for our eco-friendly home batteries encourages us to realize an absolutely necessary technological market expansion with Redox Flow based product innovations – and to become the leading supplier of lithium-free energy storage systems within the next two years,” explains VoltStorage CEO Jakob Bitner. The investment capital will be used to expand the series production of VoltStorage home batteries, to develop larger Redox Flow energy storage systems for commercial, agricultural and residential areas, and to continuously develop the Redox Flow battery technology. By the end of 2021, VoltStorage plans to double its team and triple the production space at its Munich headquarter.