Tesvolt announced that it has completed an equity financing round of approximately €40 million. The funds were provided by a consortium of investors led by the Liechtenstein Group – a group of companies owned by the Liechtenstein princely family.
According to the manufacturer, such financial resources will be used to accelerate international activities and, consequently, focus on innovative products.
“International markets already account for more than 40% of revenues, placing Tesvolt in an ideal position for further international expansion. Entry into the North American market is scheduled for next year,” said the company in a statement.
“We have been pursuing a dynamic growth strategy for years. During the current financial year, demand has resulted in order intake of almost 100 million euros previously. The company is using innovative products for its energy storage solutions and has recently accessed important emerging markets,” the company highlighted.
For Daniel Hannemann, co-founder and commercial director of Tesvolt, this integration of new investors is an important milestone. “The involvement of prestigious investors, who also support us strategically with their expertise, is further proof of the operational strength of our sustainable business model,” he highlighted.
Johannes Meran, investment director at the Liechtenstein Group, also commented on the importance of the partnership. “With Tesvolt, we are investing in a manufacturer that is a solid and significant addition to our existing renewable energy portfolio.”
“Tesvolt is a technology leader in an attractive growth market, and its innovative storage solutions products have the potential to make a significant contribution to the global energy transition. As such, they are supporting not only our growth strategy, but also our objective of making a positive contribution to social and environmental issues through business activities,” he concluded.
Green Hydrogen Projects
The company also announced that it is working with the Schaper Group to implement a series of green hydrogen projects. This is the largest contract in the company's history, with the collaboration promising revenues of around €40 million for Tesvolt by 2023.
According to the manufacturer, the Schaper Group is installing Tesvolt energy storage systems with a total generation capacity of 40 MWh for the Apex Group.
“Smart battery storage solutions offer hydrogen electrolyzers a reliable power supply when solar or wind systems cannot produce enough electricity,” Tesvolt reported in a note.
“We want to enable climate-neutral production for commercial and industrial companies. And for this the Schaper Group is exactly the right partner,” Hannemann pointed out.
“In its projects for hydrogen pioneer Apex, Schaper demonstrated that energy supply using only renewable sources is possible,” he added.
Hermann Huss, owner and managing director of the Schaper Group, also commented on the agreement and emphasized that the efficiency and service life of Tesvolt's energy storage systems particularly stand out compared to other manufacturers.
“We have been working with Tesvolt on several projects for almost three years and are impressed with the quality of the manufacturer's systems. Together, we want to develop more green energy solutions for manufacturing companies in the future.”
