Swiss battery start-up Libattion has secured 14 million euros in funding from international investors. The investment will be used to build Europe’s largest battery upcycling production factory outside of Zurich.

Spain-based A&G Energy Transition Tech Fund led the round alongside Spanish automotive components manufacturer Teknia, the Portuguese fund HCapital New Ideas II, and Swiss energy utility company EBL.

Libattion was founded in 2018 by Stefan and Nicolas Bahamonde to design a sustainable value chain for batteries to accelerate the transition to environmentally friendly electromobility. The focus is on upcycling batteries. It uses high-performance batteries from reputable manufacturers. Before the batteries become valuable business assets again through upcycling, Libattion carefully checks the used batteries for their technical condition. They then assemble intelligent battery packs with the help of an automated welding robot.

The start-up produces innovative energy storage systems called e-Racks, which can cover a wide range of capacities, from 97 kWh to 60 MWh. The storage systems provide energy flexibility services for companies, such as frequency control and peak demand reduction, as well as for fast charging of electric vehicles.

“We strongly believe in the transition from electric car batteries to stationary systems as an alternative energy storage system,” said the Libattion’s CEO and co-founder Stefan Bahamonde. “We are very pleased to have strong partners on board, who will help us achieve the next milestones. The arrival of new partners will allow us to significantly increase our global presence, expanding our operations both in Europe and globally. We are determined to revolutionise how the efficient use and reuse of batteries is managed, thus driving the transition to a more sustainable and energy-efficient future.”