STABL Energy announces closing of €4.5m seed investment
- STABL Energy makes battery storage more efficient, more safe and affordable and allows easy re-use of second-life batteries.
- Smart Energy Innovation Fund of Energie 360° leads the round. UVC Partners is on board as a new investor. Existing investors such as the Initiative for Industrial Innovators and various business angels have invested.
- The funds will be used for product development, certification and expansion of the team
Munich, 18.10.2021 – STABL Energy has raised EUR 4.5 million in its seed investment round and brought UVC Partners as a new investor on board. The round was led by Smart Energy Innovation Fund of Energie 360°. Furthermore, the existing investors are participating significantly in the round, including the Initiative for Industrial Innovators and various business angels. The round was also made possible by Seitz-Partner, a leading law firm that advises start-ups and investors in financing rounds and growth phases.
«We are very happy to have UVC Partners and the new investors on board who will help shape STABL Energy’s success story, » says Ruth Happersberger, founder of the Smart Energy Innovation Fund and member of the Executive Board at Energie 360°.
«This investment round enables us to focus on growth and product development. With the new capital we will grow our team, expand our existing partnerships, and prepare our entry into the European market, » says Dr. Arthur Singer, Co-Founder and Co-CEO of STABL Energy.
Battery storage systems are key for a successful energy transition. They can store excess electricity from solar and wind power and make it available when the sun is no longer shining or the wind is not blowing. STABL Energy is developing a technology that makes these battery storage systems more efficient, safe, and affordable.
Modular battery system to store renewable energy
The core principle of the technology is to split high-voltage battery packs into many smaller modules that are dynamically interconnected using the STABL technology. This concept guarantees very high reliability and improves safety – both in operation and during installation. In addition, this so-called multilevel approach means that less energy is lost during conversion, which reduces the operational costs of the storage systems.
STABL technology enables easy use of second-life batteries
In addition to using new batteries, STABL Energy's innovative technology also makes it possible to reuse discarded batteries from electric cars. With the help of modular inverters, battery modules can be easily transferred from electric vehicles to stationary storage. The STABL technology can easily handle the wide variation of residual capacities of battery modules from electric cars. This means that the storage units can be used for longer, which reduces their carbon footprint and makes the energy transition more sustainable and affordable.
Here's what the investors are saying:
«We were particularly impressed with the team, because they were able to take an innovative technology from university research and turn it into a working product with initial customers in a short period of time,» said Johannes von Borries, Managing Director of UVC Partners. «STABL Energy is an important building block for the widespread use of alternative energy and benefits from the trend towards battery-powered cars and energy storage.»
Metin Zerman, Investment Manager of Smart Energy Innovations Fund of Energie 360°: «STABL Energy's technology also makes battery storage financially attractive for many applications. The flexibility and combination of different battery modules in one battery storage system – as well as the easy reuse of second-life batteries – make this concept extremely exciting.»
About STABL Energy
STABL Energy is a provider of novel, modular power inverters for battery systems. Founded in Munich, Germany in 2019 (then called m-Bee) by Dr. Arthur Singer, Dr. Nam Truong, Martin Sprehe and Christoph Dietrich, the STABL technology makes commercial and utility scale energy storage systems more efficient, reliable, safe, and affordable.
The new approach also allows seamless and easy integration of used car batteries, which extends the lifetime of batteries and reduces their resource consumption.
About Smart Energy Innovation Fund of Energie 360°
Energie 360° makes sustainable energy available throughout Switzerland. Its 293 employees are committed to working with customers, partners and communities to promote renewable energy and eco-mobility. The City of Zurich holds a 96% share in Energie 360°, which supplies the metropolis – and 42 other communities – with increasing amounts of renewable gas. The company plans, builds and operates energy solutions. It invests in electric charging stations and, as a leading supplier of biogas and wood pellets, provides customers with climate-friendly energy. Through its Smart Energy Innovation Fund, Energie 360° supports startups with focus in cleantech, energy, smart cities and mobility. That is how Energie 360° contributes day in and day out to achieving the 2,000-watt society – here and now for coming generations.
About UVC Partners
UVC Partners is a Munich- and Berlin-based early-stage venture capital firm that invests in European B2B startups in the areas of enterprise software, industrial technologies and mobility. The fund typically invests between € 0.5 - 5m initially and up to € 20m in total per company. Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 240 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners.
Find out more about UVC Partners at www.uvcpartners.com.
About Initiative for Industrial Innovators
The Initiative for Industrial Innovators is a cross-border financing initiative that funds disruptive, deep-tech teams and early-stage startups via fast funding instruments. It is backed by – amongst others – the European Investment Fund / InnovFinEquity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to finance for startups and other SMEs.
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