VoltStorage develops sustainable alternative to Tesla Powerwall
VoltStorage, a Munich-based startup, which just received €6m in VC funding, thinks it has the answer.
It is about the size of a small fridge and uses vanadium redox-flow technology to store energy, rather than the lithium-ion batteries that are used for powering laptops and electric cars.
VoltStorage, however, is concentrating on applications closer to home, namely, the market for home energy storage, particularly for people wanting to store solar energy.
Voltstorage, founded in 2016, is among a new wave of startups focused on energy storage, alongside Switzerland’s Energy Vault, a gravity-and kinetic energy storage startup, which raised $110m from SoftBank last year.
At the time Peither was working electric cars for BMW, and had seen first-hand the teething problems with lithium-ion batteries.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
The United States averages 20 technology companies founded per year that reach $100 million in revenues.
Search Startup Around
Boost Your Discovery with Us
Advertise with us to boost your article, content pience, product, event, conference discovery to our readers which includes founders, startup enablers, investors and every key stakeholders from global startup eco-system.