Exclusive: Voltfang raises six-figure sum

The home storage start-up from Aachen completes the first part of its pre-seed round. The investment comes from two business angels.

The Aachen-based start-up Voltfang has completed the first part of its pre-seed financing round. The start-up has received a six-figure investment in the form of a convertible loan. Further shares will be reserved for other strategic partners and raised over the course of next year. "Until our seed round, we have reserved further shares to attract business angels with particular experience and networks in the automotive industry, battery technology and venture capital," say the founders Afshin Doostdar, David Oudsandji and Roman Alberti.

Voltfang offers home and industrial storage systems that they produce from used e-car batteries. The aim is to store surplus solar energy produced during the day and use it at night. Home storage units are available from 10 kilowatt hours (kWh), industrial storage units from 30 kWh. "We will now develop our second-life storage solution to series maturity, certify it and carry out further pilot projects," say the three founders from Aachen. The money from the final seed round will then be used to produce an initial small series.

Keith Sauvant, founder of Aspera, a software license management company that he sold in 2016, has invested. The second business angel is Antonio Mesquida Küsters, who worked as an investment manager for Siemens and is currently employed by the Dutch company ASML. "Storage systems are the missing piece of the energy transition puzzle. Voltfang has developed a sustainable solution with the use of 'second life' batteries," says business angel Sauvant.