VoltR secures €22 million to scale lithium battery remanufacturing

French lithium battery remanufacturer VoltR has secured €22 million to industrialize the production of second-life batteries in Europe. The funding consists of a €16 million equity raise from the SPI 2 Fund, managed by Bpifrance for the French government via the France 2030 initiative, and Decathlon Pulse, the investment arm of Decathlon. Additionally, the company obtained €6 million in grants through the Première Usine program.

The capital will be used to transition VoltR from a proof-of-concept stage to industrial-scale deployment. Key objectives include doubling the surface area of its factory in Verrières-en-Anjou and increasing production capacity sixfold within the next two years. The company also plans to double its workforce, creating approximately 40 new jobs.

VoltR’s model focuses on the circular economy by collecting used lithium batteries, diagnosing cell performance, and repurposing them into new batteries. This process aims to reduce reliance on new raw materials and minimize the environmental impact of battery production by treating end-of-life batteries as a resource.