The Aachen-based battery storage start-up for industry, commerce, and grid applications has completed its Series B financing round of 15 million euros. The round was once again led by the Dutch deep tech investor FORWARD.One as the lead investor. Other investors include both existing partners such as Interzero, PT1, Helen Ventures, Daphni, Aurum Impact (Goldbeck family), and new donors such as Fiege Ventures and Newberry Investments.
At the same time, the company is expanding and opening a new production site in Aachen, NRW. The new production facility "Voltfang Future Fab" offers significant growth potential and enables scaling up to 1 GWh with powerful and energy-dense storage solutions. By expanding production capacities, enough battery storage is expected to be produced by 2030 to replace the Weisweiler coal-fired power plant and strengthen Germany as an industrial location, according to the company.
Expanded Production Capacities
With the fresh capital, the company aims to significantly expand production capacities and provide an additional 250 megawatt-hours of green storage capacity in Europe by the end of 2026, thereby
meeting the rapidly growing demand for large-scale storage systems. At the same time, the intelligent energy management system Venma will be further developed with AI functions. With the help of Venma, companies can maximize their self-consumption, reduce their electricity costs, and trade on the energy market.
Battery Factory at e.GO Site
The move into the former production halls of the Aachen-based electric car manufacturer Next.e.GO with 6,000 m² in the TRIWO Technopark in NRW underscores the high demand for industrial, commercial, and large-scale storage systems. While the company's produced storage capacity was 5 MWh in 2023, it increased to 20 MWh in 2024. By scaling its production, the provider can further reduce its dependency on battery storage from China and other Asian countries. By using second-life and overproduced batteries from the European automotive industry, the company promotes the development of an independent and resilient battery industry in Germany and Europe.
Energy Storage Market Growing Strongly
The energy storage market in Germany is growing continuously and strongly, with forecasts from the Fraunhofer Institute
underlining its importance, explains the specialist. By 2030, around 100 GWh and by 2045 around 180 GWh of electrical storage capacity will be needed. An advantage of the location is also its proximity to other innovative companies on site, such as Cylib, which also belongs to the Battery Circle Aachen, and Black Semiconductor, a pioneer in next-chip technology. This creates synergies and supports the development of the technology location Aachen in the field of battery technology.
“The financing round is a direct response to the enormous order intake we recorded in Q1 of this year. The expansion of energy infrastructure is urgently needed both in Germany and Europe. Europe is facing major challenges in energy supply to make itself resilient to external influences. We must now create significantly more flexibility in the form of large-scale battery storage systems. The doubling of our valuation within 6 months is a sign of the market's trust in the technological relevance and growth potential of Voltfang," explained David Oudsandji, CEO and co-founder of Voltfang.
Paul Pruijmboom,
Partner at FORWARD.One, sees the company as exemplary for the investment strategy: a strong hardware product with an intelligent software core, he says. With powerful and European storage technology, the team addresses one of the most pressing problems of our time, the energy transition.
"We are convinced that local energy infrastructure in Europe is one of the most important pillars for European economic growth," Pruijboom further states.
Jens Fiege, co-CEO of the Fiege Group, adds that Voltfang offers logistics companies what they need for the future: "a technologically convincing, ecologically sensible, and economically scalable solution". With the participation, we not only want to provide capital but also bring in our infrastructure and expertise to jointly advance economic energy storage solutions for logistics, Fiege further states.
"The combination of circular economy, energy management, and scalable storage technology solves precisely the challenges that the building sector and energy supply face today. Voltfang is an important partner for us when it comes to thinking about building and energy solutions holistically,” emphasizes Jan-Hendrik Goldbeck, managing partner
