Cummins joins Volt Storage

The US engine manufacturer wants to diversify its own business in this way. The Munich-based start-up plans to use the capital to speed up its market launch.

U.S.-based Cummins is investing in Munich-based startup Volt-Storage. This was reported by the Handelsblatt. The expert for diesel and gas engines comes from the conventional energy sector and wants to focus more on renewable energies as part of its own energy transition.

The start-up has developed giant batteries using iron-salt technology. These are only about one-tenth as expensive per kilowatt-hour as conventional lithium-ion batteries, the manufacturer claims. The company put the prototype into operation in December. The first customer-based trial programs will begin in 2023. The technology is expected to help solve one of the main problems of the energy transition: electricity from renewable sources is often abundant - and lacking when demand is high. Operators of wind and solar farms are therefore very interested in storage options.

Volt-Storage's first customer pilot projects have been announced for 2023, and operators of solar and wind farms are very interested in storage options. With further financing and a new strategic investor, the startup Volt-Storage plans to push ahead with the commercialization of its iron salt batteries. "We now have planning security and want to accelerate the market launch," says CEO Jakob Bitner.

"Cummins, for example, can help us with its experience in series production and plant engineering," Bitner said. Nevertheless, he said Volt-Storage should remain an independent company, which is why it is a minority investment.