VoltR raises 4 million euros

French startup VoltR secures €4 million to industrialize the remanufacturing of lithium batteries

ANGERS, France, June 24, 2024 - French company VoltR has successfully raised €4 million in a seed funding round. The startup, which specializes in sustainable lithium batteries, plans to use these funds to industrialize its remanufacturing processes. Investors include C4 Ventures, Exergon, Pays de la Loire Participations and Anjou Amorçage.

Plans for the future

VoltR intends to use the funds to further develop its pilot plant and industrialize the processes. In addition, research and development will be driven forward and new experts will be recruited. The company is already preparing for a Series A financing round, which is expected to raise tens of millions of euros and should be completed by the fourth quarter of 2024.

Focus on sustainability

The demand for batteries is increasing as the electrification of the energy system progresses. However, the production of batteries requires large quantities of raw materials such as lithium, the extraction of which is energy- and water-intensive. This leads to a high CO2 footprint. VoltR has set itself the task of maximizing the value of batteries by recycling them. In this way, the company aims to contribute to environmental sustainability and European sovereignty.

Innovative technologies

Since its foundation in 2022, VoltR has developed technologies and processes based on artificial intelligence. These enable the characterization and reclassification of battery cells as well as their reconditioning. VoltR produces high-performance batteries from used products that retain an average of 80% of their storage capacity. These batteries meet the same quality and capacity requirements as new products and in some cases even exceed them.

Our goal is to establish a European circular economy for lithium batteries and minimize their environmental impact. The largest lithium deposit is not in the mines, but in our country.

Alban Regnier, Chairman and founder of VoltR

Financing in detail

The seed financing round comprises a total of 2 million euros. VoltR was supported by C4 Ventures and Exergon. The start-up also received funding from Pays de la Loire Participations and Anjou Amorçage. A further 2 million euros was provided in the form of a mix of loans and grants.

VoltR demonstrates the importance of sustainable innovation in battery technology. The company intends to use the new funds to further optimize its processes and revolutionize the European battery industry.