Germany’s Voltfang secures EUR 8 million in fresh cash

Aachen-based Voltfang has raised more than EUR 7 million ($ 7.6 million) from investors in an oversubscribed Series A financing round. The round was led by Deeptech, Forward One and Interzero, the company said on Wednesday.

Existing investors such as PT1, AENU, Helen Ventures, Daphni, Aurum Impact (Goldbeck family office) and Maximilian Viessmann also participated. Voltfang wants to use the cash to expand its product portfolio and maximize the performance of its battery storage systems by further developing its energy management system.

The company offers energy storage for commercial and industrial use as well as grid applications based on reused and tested electric vehicle batteries from the European automotive industry. The company is a spin-off of RWTH Aachen University. Its first projects are already up and running. Voltfang says it plans to deliver an additional battery capacity of 40 MWh by the end of 2025.

Voltfang also received EUR 800,000 in funding. This includes funds from the Central Innovation Program for SMEs (ZIM) of the Federal Ministry of Economics, the ERDF/JTF Program of North Rhine-Westphalia, a research allowance from the Federal Ministry of Finance and the Regional Economic Development Program of North Rhine-Westphalia (RWP), the company told pv magazine .

From pv magazine Germany