Energy storage company Tesvolt scales-up thanks to EIC-funding

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The share of renewable energies like wind and solar power is steadily growing in our grids.  But their uptake by the Commercial and Industrial (C&I) sector has been long held back by their volatility – depending on the time of the day and the weather, the energy supply from the sun or the wind sometimes varies greatly. To flatten down these fluctuations, companies need to store the energy. Tesvolt offers them a highly efficient solution, that allows to cut costs and reduce volatility.

Tesvolt has developed a lithium-ion battery system based on high-voltage technology, which is said to gain in efficiency and improve the battery’s lifespan. Tesvolt’s batteries will reach a service life of 30 years, or the equivalent of 8,000 complete charge cycles with a 100% depth of discharge, thanks to its system. The technology is also expected to slash electricity storage costs by more than a half.

The next step is to make the product ready for serial production, thanks to the EIC’s SME Instrument grant. The company is adapting its production site in Germany to allow for the mass production of the batteries. The company’s production site could see an additional 60 employees added over the next 24 months. For the moment, the battery systems will be distributed mainly in Europe.

Read more about Tesvolt here.

The SME Instrument is part of the European Innovation Council (EIC) pilot that supports top class innovators, entrepreneurs and small companies with funding opportunities and business acceleration services. Would you like to discover more projects funded by the EIC? Have a look at our datahub.

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