Deeptech Angevine is the first company to collect and recondition lithium batteries to give them a second life. Its ambition is to create a European sector to meet the challenges of decarbonization and supply of the sector.
Angers, April 29, 2024 - VoltR, a French manufacturer of refurbished batteries, announces a fundraising of 4 million euros to industrialize its process for reconditioning lithium batteries. For this first seed round, Angers-based Deeptech was able to count on the participation of, among others, C4 Ventures, Exergon, Pays de la Loire Participations and Anjou Amorcement.
With the funds raised, VoltR will continue the first steps of the company's development, including the optimization of reconditioning processes, Research & Development and the recruitment of new talent. A Series A funding round has already been launched and should be completed by the fourth quarter of 2024.
Responding to ecological and European sovereignty challenges
The energy and industrial transition and in particular the electrification of uses are leading to a growing demand for batteries. This trend is driven on the one hand by the transition of numerous technologies to electrical systems in sectors such as mobility and on the other hand by the exponential growth of consumer electronics. As a result, the battery industry is facing a significant increase in demand. However, the production of new lithium batteries requires raw materials such as lithium, whose extraction is particularly energy-intensive and water-intensive. Thus, the carbon footprint generated to produce a new battery is much greater (70% CO2) than that of a product that has reached the end of its life and has been refurbished.
Moreover, almost all European battery supplies come from Asia. In 2021, 1.7 million cells and batteries were placed on the French market according to Ademe* and thousands of tons of batteries are recycled every year despite the fact that it is possible to give them a second life.
While investment projects to open battery factories in Europe are multiplying, the continent already has one of the largest lithium deposits in the world through stocks of batteries at the end of their “first life”. This is why VoltR has made it its mission to maximize the value of batteries by giving them a new use. Deeptech's ambitions are thus in line with the France 2030 plan, the objective of which is to reconcile reindustrialization, European sovereignty and ecological imperatives.
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