08/11/2023
Source: Energy & Management Powernews
With funds from existing investors and two new backers, Munich-based Stabl Energy GmbH aims to commercially expand and further develop its technology.
"Novel, modular inverters for battery storage" are being developed by Munich-based "STABL Energy GmbH," which was founded in 2019 and has now raised €15 million in an investment round from Danish green tech fund Nordic Alpha Partners (NAP) and the European Innovation Council (EIC), as well as existing investors.
Stabl's technology eliminates the risk of instability when used electric vehicle batteries are used for battery storage systems, taking an "innovative and unique approach to the circular economy," the entrepreneurs write of their product. As a result, Stabl's second-life battery storage systems offer a sustainable solution for energy storage, particularly for commercial and industrial customers, the construction and real estate industries, and the agricultural sector.
The money will be used to expand the company's customer outreach and further develop its technological infrastructure, they said. With the successful funding round, Stabl Energy has laid the foundation to both commercially expand and further develop its technology architecture, according to a company statement. In addition, the collaboration is expected to further accelerate Stabl Energy's growth trajectory based on Nordic Alpha Partners' operational value creation model.
author: Katia Meyer-Tien
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