French startup VoltR, based in Pays de la Loire, has raised €4 million in its first fundraising effort to bolster its pioneering lithium battery reconditioning efforts.
This initial round saw contributions from C4 Ventures and Exergon, among others, including Pays de la Loire Participations, Anjou Amorçage, and the network of the Chamber of Commerce and Industry (CCI) of the region.
Plans for Expansion and Innovation
VoltR plans to use this funding to finance the development of its first lithium battery reconditioning plant and to enhance research and development efforts. Additionally, the funds will support the recruitment of new talent as the company aims to scale its operations. A new Series A funding round is also anticipated by the end of the year to further these initiatives.
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A Vision for Sustainability
Founded in 2022 by Alban Régnier, François Mallet, Maxime Bleskine, and Thibaud Maufront, VoltR specializes in giving a second life to old lithium batteries. The company has inaugurated its first production line in Angers, in the presence of Christophe Béchu, Minister of Ecological Transition and Territorial Cohesion. This facility aims to recondition 2 million battery cells annually and will employ about 100 people.
VoltR’s innovative process involves disassembling end-of-life batteries to extract cells, which are then tested for health status using AI and modeling techniques. These cells are subsequently used to manufacture remanufactured batteries that offer the same performance as new batteries in terms of quality, capacity, and durability, while significantly reducing the carbon footprint.
A Circular Economy for Batteries
With the planned construction of a 5,000-square-meter automated facility potentially located in the Pays de la Loire region, VoltR is at the forefront of creating a circular battery economy. This strategy not only recycles valuable materials but also aligns with global sustainability goals by minimizing waste and promoting resource efficiency.
VoltR’s mission is to fully exploit the potential of waste battery deposits, transforming the way we think about and utilize used batteries. By reconditioning batteries, VoltR supports a sustainable approach to energy use, helping to reduce environmental impact and pushing the boundaries of ecological innovation.
