Voltfang Secures €8m in Series A Financing to Accelerate Growth in Green Energy Storage
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, 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 approach to green and highly efficient energy storage is exactly the kind of technology we want to support. We are impressed by Voltfang’s rapid growth and significant market penetration. Their ability to deploy substantial storage capacity in such a short timeframe is remarkable. We’re excited for this partnership and look forward to contributing to their growth and success,” said Paul Pruijmboom, Partner 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 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 has taken great steps forward during our time as an investor and I am optimistic of our continued momentum now with FORWARD.One and Interzero bringing additional expertise onboard,” says Mikael Myllymäki, Vice President and Head of Helen Ventures. “Batteries have fast become an important pillar of the modern electricity system and continuing to build out this flexible capacity sustainably is paramount. Voltfang’s alignment with these trends and excellent execution capability make it our pleasure to continue our support of the company.”