Libattion storage systems can be used to offer flexibility services to the electrical grid, installed as energy back-up systems, reduce power peaks in commercial and industrial customers, used for fast charging of electric vehicles and hybridized with renewable assets.
The great interest of European investors in this company is based on the growing demand for energy storage systems that help reduce dependence on critical resources and contribute to the decarbonization of the industry. Libattion offers algorithms and power control systems that guarantee a 10-year extension of the useful life of used electric vehicle batteries and, in addition, produces energy storage systems called “e-Racks”, capable of covering a range of capacities. from 97 kWh to 60 MWh.
The round, which has been led by A&G Energy Transition Tech Fund (“A&G ETTF”), an investment fund integrated into the independent Spanish financial services group, A&G, has also had the participation of Teknia Partners, the investment vehicle of the Spanish multinational mobility components manufacturer Teknia, and with the HCapital New Ideas II fund, a venture capital fund dedicated to investing in innovative companies in the areas of energy, smart cities and mobility, managed by the Portuguese private equity firm HCapital Partners . For its part, EBL, a Swiss multi-energy company, which was already an investor in Libattion, continues to support the company in this new round.
Stefan Bahamonde, CEO and co-founder of Libattion: “We firmly believe in the reuse of electric car batteries in stationary systems as an alternative energy storage. This financial support allows us to expand our operations both in Europe and globally. We are determined to revolutionize the way energy is managed the efficient use and reuse of batteries, thus driving the transition towards a more sustainable and energy efficient future.”
Juan Diego Bernal, CEO of A&G Energy Transition Tech Fund: “Libattion’s technology provides an economical alternative to the growing problem of used electric vehicle batteries and, on the other hand, offers an optimal solution for stationary energy storage.”
Alejandro Deleyto, Director of Strategy at Teknia: “This investment is directly linked to Teknia Partners’ intention to invest in sustainable mobility and fits perfectly with Teknia’s strategic plan, which is firmly committed to sustainability as a key pillar in our business as a manufacturer of mobility components.”
Gonçalo Sousa Coutinho, partner at HCapital Partners: “Energy storage will be a fundamental topic and critical investment area within the energy space. Therefore, it is crucial that sustainable solutions like the one offered by Libattion are brought to market to maximize the reuse of materials and reduce costs associated with life cycle,” comments Tobias Andrist, CEO of EBL.
Libattion Credentials
Libattion, based in Zurich, is a company specialized in the integration of sustainable energy storage systems, based on the reuse of electric vehicle batteries in commercial and industrial applications. Libattion’s vision is to provide the world with sustainable battery technology that minimizes resource consumption, helps protect the environment and offers cost-effective solutions to its customers.
