At the core of the energy transition, TESVOLT’s energy storage solutions are meeting demand sin countless future markets.
TESVOLT specializes in battery storage for commercial businesses. The company produces lithium-ion-based storage systems that can be connected to all renewable energy generators on the low-voltage grid: solar, wind, hydro, biogas and combined heat and power.
All storage systems are produced in TESVOLT’s own manufacturing facility in Wittenberg, Germany, Europe’s first gigafactory for battery storage.
Why we invested
Daniel Hannemann and Simon Schandert founded the company out of a motivation to further advance the use of renewable energies.
We could only support this future-oriented approach. That is why we have been involved in TESVOLT as an active investor since 2017. We were particularly convinced by:
- The outstanding and experienced founding team with its wide-ranging technical expertise and convincing management track record.
- The technically validated product and a clear set of USPs that enable flexible deployment of the storage system in countless use cases.
- The fact that TESVOLT is an absolute technology leader and the company’s highly innovative battery management system significantly increases the efficiency of energy storage systems.
- The extremely dynamic growth market for energy storage.
Our operational approach
At TESVOLT, our investment found an experienced founding team with many years of management experience that had not only managed to successfully establish itself in the market, but also to build a team of more than 20 employees.
As an investor with more than 25 years of VC expertise, we have since been actively supporting the company in its fundamental strategic orientation as well as in issues related to the company’s development.
In particular, we provide active support with our know-how to help with strategic orientation, and all issues concerning organizational structure that a rapidly growing company like TESVOLT is confronted with.
Practically, we contribute our experience in structuring and executing financing rounds and take an active role in the search and qualification of key management positions.
With its operationally strong and sustainable business model, TESVOLT is currently on a steep growth trajectory.
Thus, in November 2021, a mega financing round in the amount of approximately EUR 40 million was obtained from renowned investors in order to push its international activities and consistently pursue the development of innovative products.
For the largest order in the company’s history to date, worth EUR 40 million, the company is working with a technology partner to install battery storage systems that provide the electricity for the production of green hydrogen.
With the development of inductive charging systems for e-mobility, TESVOLT aims to further expand its technology leadership while making a significant contribution to the charging infrastructure of the future.
Consequently, the young company has already received several awards, including the German Founder’s Prize in the category “Up-and-Coming”, the innovation award “TOP 100″ and the international Award for Rural Electrification (ARE).