BASQUEVOLT, the new European solid-state technology company has closed its first round of seed funding of 10 million euro led by a group of investors from government, energy and automotive.
The company aims to be the European leader in solid-state technology with a particular focus in a proprietary polymer composite solid electrolyte.
The company is located in Alava and aims to become the European leader in solid state battery technology by leveraging its proprietary composite electrolyte that results from more than 10 years of research done by Professor Michel Armand and some of the world most successful solid state battery researchers at the CIC energiGUNE.
The mission of BASQUEVOLT is to develop sustainable and cost competitive technologies that will make possible the mass deployment of electric transportation, stationary energy storage and advanced portable applications.
The portfolio of technologies that the company will initially develop includes a proprietary polymer composite electrolyte and a high silicon content anode, both products will contribute to solving solid-state battery challenges. The technologies are protected by 10 patents that have been licensed to BASQUEVOLT as part of the launch of the initiative.
This unique technology brings lithium batteries beyond the state of the art by bringing to the market high energy density, safe and competitive products. It is particularly important to ensure battery costs are significantly reduced, by using the right materials in the electrolyte and a more energy efficient and less costly manufacturing process.
“Our society is now engaging actively the phase out of fossil fuels in order to ensure that we collectively achieve a sustainable way of living and protect the planet as we know it.”
“Current lithium batteries are reaching the limit of what they can offer and going to the next phase require a technology change, that’s where BASQUEVOLT’S products come into play.” said co-founder and CEO Francisco Carranza.
The seed investment was led by the Basque Government and includes Iberdrola, CIE Automotive, Enagás, EIT InnoEnergy, and CIC energiGUNE, whose research is the initial technology baseline for the company.
