Recently, VoltStorage, a developer of all-vanadium redox flow energy storage systems, announced that it has raised 24 million euros in Series C financing, part of which will be used to manufacture new iron salt batteries.
The Germany-based company raised capital from Cummins, a major U.S. company that develops and sells engines, filters and energy-age commodities.
VoltStorage will use the funding to develop a new iron-salt-based flow battery and advance the project by creating a larger-scale redox flow energy storage system.
The company appears to have updated its technology since raising €6 million in 2020, when it described itself as a company "developing and producing (photovoltaic) energy storage projects for individual residences." At that time, the company's base product was the Voltstorage SMART, which had an output of 1.5kW and a capacity of 6.2kWh.
VoltStorage now says its all-vanadium redox flow batteries are primarily for industrial and agricultural use, and in its latest press release, the company made no mention of residential or domestic use.
The company said the low-cost iron-salt batteries that its analysis and improvement team is currently developing will be particularly suitable for providing specific baseload functions for wind and solar farms.
