Libattion's Upcycled EV Battery Tech Secures €14M Funding

Libattion, a Swiss company specializing in stationary energy storage solutions from upcycled electric vehicle batteries, has successfully secured €14 million in funding. The company's innovative energy storage systems, known as "e-Racks," offer a sustainable and cost-effective alternative for the battery market, aiming to reduce the import of critical resources and contribute to the decarbonization of industries. These systems can cover a wide range of capacities, from 97 kWh to 60 MWh, providing energy flexibility services for companies and supporting critical infrastructure needs, such as hybridizing renewable assets to store surplus energy. Libattion's unique algorithms and power control systems ensure that the upcycled batteries maintain technical performance equal to that of new batteries, extending their service life. The funding round was led by A&G Energy Transition Tech Fund, Teknia, HCapital New Ideas II, and EBL, highlighting the company's potential to become a European benchmark in the battery market. CEO Stefan Bahamonde expressed confidence in the transition from electric car batteries to stationary systems, emphasizing the importance of efficient battery use and reuse for a sustainable and energy-efficient future. With the support of strong partners, Libattion plans to expand its global presence and activities, driving forward the adoption of upcycled battery technology on a larger scale.