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Funding
Libattion raises EUR 14 million in funding to expand EV battery upcycling
Waste Recovery & Management Tech
Jun 27, 2024
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Waste Recovery & Management Tech

Waste Recovery & Management Tech

Jun 27, 2024

Libattion raises EUR 14 million in funding to expand EV battery upcycling

Funding

  • Libattion, a Swiss firm specializing in stationary energy storage solutions using recycled electric vehicle batteries, has raised EUR 14 million (~USD 15 million) in funding. The funding round was led by A&G Energy Transition Tech Fund and involved participants like Teknia, HCapital New Ideas II, and EBL.

  • The company plans to use the funds to develop its battery upcycling technology, which it claims supports the reduction in the import of critical resources and the decarbonization of industries.

  • Founded in 2019, Libattion's solution involves creating "e-Racks," a range of innovative energy storage systems with varied capacities. These systems offer energy flexibility for businesses and support charging electric vehicles. They also extend the lifecycle of batteries through unique algorithms and control systems.

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