VoltR raises €22 million to advance battery second-life solutions
The French company aims to demonstrate on an industrial scale that a battery that has reached the end of its first life cycle can become a new resource for manufacturing new batteries in France.
VoltR, a French company specializing in lithium battery remanufacturing, has secured EUR 22 million to accelerate its industrialization. This financing combines an EUR 16 million equity investment raised from the SPI 2 Fund, managed on behalf of the French government by Bpifrance as part of the France 2030 initiative, and from Decathlon PULSE, Decathlon’s investment and innovation entity dedicated to creating new growth engines. It is completed by EUR 6 million in grants obtained through the Première Usine program, VoltR said.
The French company aims to demonstrate on an industrial scale that a battery that has reached the end of its first life cycle can become a new resource for manufacturing new batteries in France. This initiative will enable VoltR to double the size of its factory in Verrières-en-Anjou and increase its production capacity sixfold over the next two years, the company said.
“For the past four years, we have been working to demonstrate a fairly simple idea: a lithium cell that has reached the end of its first life cycle has not necessarily reached the end of its industrial life,” said Maxime Bleskine, VoltR CEO. “We have validated the proof of concept with more than 20,000 batteries placed on the market, and this funding round now gives us the means to demonstrate this on a large scale.”
The investment will specifically support the expansion and capacity increase of its manufacturing facilities, the industrialization and automation of its production processes, the development of its diagnostic and cell repurposing technologies, and the construction of an ICPE-certified storage facility, the company said.
“VoltR, with its expertise and unique positioning, has established itself as a key player in this circular economy revolution, and we are proud to support it in this new phase of industrialization,” said Jean-Philippe Richard, CEO of SPI Fund, Bpifrance.
“We share VoltR’s conviction that circularity must be at the heart of tomorrow’s industrial models, and we are particularly pleased to partner with such a committed team,” said Franck Vigo, CEO of Decathlon PULSE. “Together, we aim to accelerate its development and help strengthen the industrial capabilities, expertise, and supply chains in Europe that are necessary for a more circular industry.”
