Voltstorage, a European liquid flow battery energy storage company, received 24million euros in round C financing

Recently, voltstorage, the developer of all vanadium liquid flow energy storage system, announced that it had raised 24million euros (about US $24.3 million) in the round C financing, and part of the financing will be used to manufacture new iron salt batteries.

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Voltstorage will use this fund to develop a new liquid flow battery based on iron salt, and promote the progress of the project by creating a larger scale redox liquid flow energy storage system.

Voltstorage now says that its all vanadium redox flow battery is mainly used for industrial and agricultural purposes. At the latest press conference, the company did not mention residential or household uses.

The company said that the low-cost iron salt battery currently being developed by its analysis and improvement team would be particularly suitable for providing specific basic load functions for wind and solar farms.

Round C financing attracted funds from korys, EIT innoenergy, Bayern Kapital, sosv, Energie 360 ° and enterprise angels led by Matthias willenbacher.

"Now it is indisputable that energy storage projects are crucial to converting hundreds of renewable energy sources into electricity. With the newly obtained funds, voltstorage will be able to demonstrate the required applied science for this," said Jakob Bitner, CEO of voltstorage.