Aachen, Germany, 13 September 2024: Voltfang, a leading innovator in green energy storage solutions, announced the successful closing of its Series A financing round, raising €7m+ in equity and additional €800,000 in secured grants, bringing the total capital raised to over €8m. The round was oversubscribed and led by Dutch deeptech venture capital firm FORWARD.One, with significant participation from Interzero. Existing investors in Voltfang, including PT1, AENU, and Helen Ventures, Daphni, Aurum Impact the family office of Goldbeck and Maximilian Viessmann, also invested.
The funding will be used to broaden Voltfang’s product offerings, including additional investments in its advanced EMS to maximize the power of its battery storage systems. This will allow Voltfang to increase market penetration across both commercial/industrial and grid-scale applications and further strengthen the company’s market position as a pioneer in green energy infrastructure and circular economy.
“We are extremely pleased to have FORWARD.One and Interzero on board—two partners who not only bring financial commitments but also a deep understanding of our vision and mission,” said David Oudsandji, CEO and co-founder of Voltfang. “FORWARD.One’s focus on hardware and climate tech as well as Interzero’s know-how in the circular economy align perfectly with our goals. Our new investors’ respective expertise will be invaluable as we continue to innovate and lead in sustainable energy storage.”
FORWARD.one, the lead investor in this round, expressed strong enthusiasm for Voltfang. “Voltfang's green and efficient energy storage solution perfectly highlights our commitment to supporting startups that tackle significant challenges through a combination of hardware and software. We see Voltfang's batteries as essential not only in advancing Europe's energy transition but also in contributing to greater independence in resources and materials. We’re excited about this partnership and look forward to supporting their growth and success"” said Beau-Anne Chilla, who is leading climate tech investments at FORWARD.one.
Interzero’s investment in Voltfang is aligned with its vision of a ‘world without waste’, emphasizing reuse, sustainability, and second-life concepts as crucial components in achieving zero-waste. Interzero, who will invest through its shareholders’ family office, will not only offer Voltfang circular economy know-how but also access to a broad network in the circular economy space which will add to Voltfang’s strong growth outlook.
Fabian Heilemann from AENU states, “The European power grid is stretched and reached its limit due to rapidly increasing renewable power. To build up more transmission capacity will take time and cost billions of Euros. The easy and fast option would be to expand storage capacity, which will also support to stabilize the grids. This is exactly the reason why we invest in companies such as Voltfang, who can deliver high-performance and green storage solutions made in Europe for Europe”.
“We are proud to see significant participation in this funding round from existing investors, some of which have even increased their stake in Voltfang. This is a strong signal of confidence in our strategy and our team,” added Dr. Gerrit Janke, CFO of Voltfang, “Closing the financing round within just 3 months in a challenging environment for growth capital, demonstrates the positive market perception we are experiencing. This further motivates us to pursue our ambitious growth targets with renewed momentum as we are planning to deploy an additional 40 MWh battery capacity by 2025, further cementing our role as a key enabler of sustainable energy infrastructure.”
Voltfang is a German cleantech company that provides high performance green energy storage systems for commercial/industrial and grid-scale applications. The storage systems are based on requalified and tested electric vehicle (EV) batteries from premium European automotive partners. In combination with Voltfang's advanced energy management system, customers can maximize their energy efficiency, optimize consumption and at the same time significantly reduce energy costs and CO2 emissions.
Voltfang was founded in 2020 and is recognized as a thought innovator in battery storage, having won numerous industry awards, incl. German Innovation Award, EES Award, Green Alley Award, PropTech Innovation Challenge and others. In addition, Voltfang founders Afshin Doostdar (CTO) and David Oudsandji (CEO) were featured in the Forbes '30 Under 30' list.
