STABL Energy GmbH receives 15 million euros in funding to promote its used car battery technology

Munich-based startup STABL Energy successfully secures a €15 million financing round led by Nordic Alpha Partners and the European Innovation Council to advance its used car battery technology for efficient energy storage.

Munich - STABL Energy GmbH, a Munich-based startup, has successfully closed a €15 million financing round. The investment comes from new and existing investors and will support the development and commercialization of its used car battery technology.

STABL Energy's main goal is to utilize used electric vehicle batteries as a reliable energy storage solution. Through this technology, the company aims to contribute to the efficiency of the energy transition. The funding was provided by two investors: Nordic Alpha Partners' Northern European Growth Fund and the European Innovation Council. Existing backers, including UVC Partners and Energie 360 Grad's Smart Energy Innovation Fund, also participated in the financing.

STABL solves two important problems for the energy transition: Firstly, the technology enables very efficient and low-cost storage systems to be set up. Secondly, used batteries from cars are made usable

Johannes von Borries, UVC Partners

STABL's technology aims to ensure the stability and performance of used electric vehicle batteries in energy storage systems. This approach contributes to a sustainable circular economy by extending the life of batteries and reducing their environmental footprint. STABL's second-life battery storage systems are particularly attractive for commercial and industrial customers as well as the construction and real estate sectors.

The support of Nordic Alpha Partners underlines their commitment to sustainable technologies and their potential to drive the green transformation. The presence of established investors demonstrates confidence in STABL Energy's vision and approach.

The EIC fund is committed to supporting the green and digital transition. It invests in companies that are able to provide cutting-edge technologies for this transformation and are able to scale their business model.

Svetoslava Georgieva, Chairwoman of the Board of Directors EIC Fund

Dr. Arthur Singer, Co-CEO and Co-Founder of STABL Energy, sees the investment as an opportunity to accelerate the company's growth: "This funding will enable us to further develop our technology and expand our presence in the market." Dr. Nam Truong, co-CEO and co-founder, emphasizes the importance of the new partnerships for the long-term development of STABL Energy.

The funds from this financing round will enable STABL Energy to refine its technology, expand its business operations and promote the energy transition through sustainable battery storage. The company is now well positioned to realize its vision of more efficient and environmentally friendly energy storage. The university start-up was founded in Munich in 2019 by Dr. Arthur Singer, Dr. Nam Truong, Martin Sprehe and Christoph Dietrich and now employs almost 30 people.