Wittenberg, 16 November 2021 – Tesvolt GmbH, one of the world’s leading companies in energy storage technology for the commercial and industrial sectors, has concluded an approximately EUR 40 million equity capital funding round. The funds were provided by a consortium of investors led by the Liechtenstein Group – a group of companies owned by Liechtenstein’s princely family. This is another milestone in Tesvolt’s growth strategy. Tesvolt will use the financial resources to accelerate its international activities and pursue its focus consequently on innovative products.
Supported by Berenberg and UBS, the funding round managed to secure a prestigious lead investor in the form of the Liechtenstein Group, which specialises in sustainable and innovative business models. Among the other investors is a family office with an automotive background, Tesvolt can now further align itself with, especially in the field of inductive charging in the emerging e-mobility market. E.R. Capital Holding also took part in this funding round. The existing shareholder IBG-Fonds of the state of Saxony-Anhalt also participated in the financing round. After this funding round, the majority of the company shares remain in the hands of the two founders and managing directors, Daniel Hannemann and Simon Schandert. The incoming resources from the funding round will promote further growth and the expansion of internationalisation efforts. International markets already account for over 40% of revenues, putting Tesvolt in an ideal position for further international expansion. Entry into the North American market is planned for the coming year. The agenda also includes other innovative product developments.
Tesvolt has been pursuing a dynamic growth strategy for years now. During the ongoing financial year, demand has resulted in incoming orders of almost EUR 100 million previously. The company is using innovative products for its energy storage solutions and has recently tapped into important emerging markets.
Tesvolt recently signed a multi-year agreement for hydrogen projects. Tesvolt has also positioned itself in the inductive charging segment by investing in Stercom Power Solutions, a leader in inductive charging technology.
Daniel Hannemann, co-founder and Commercial Director at Tesvolt: “This onboarding of new investors is an important milestone for Tesvolt. The involvement of prestigious investors, who are also supporting us strategically with their expertise, is further testament to our sustainable business model’s operational strength.”
Johannes Meran, Chief Investment Officer of the Liechtenstein Group: “With Tesvolt, we are investing in a company that is a sound, meaningful addition to our existing portfolio of renewable energies. Tesvolt is the technology leader in an attractive growth market, and its innovative products for energy storage solutions have the potential to make a significant contribution to the global energy transition. As such, Tesvolt is supporting not only our growth strategy, but also our aim of making a positive contribution to social and environmental matters through our entrepreneurial activities.”
About the Liechtenstein Group
The Liechtenstein Group is owned by the Princely Family of Liechtenstein, and manages a portfolio of companies that operate worldwide in the agriculture and food, forestry, renewable energies and real estate sectors. The Group invests in sustainable and innovative business models, where they can leverage their in-depth knowledge and long-term capital.
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TESVOLT AG specialises in battery storage systems for the commercial and industrial sectors. The innovative company produces intelligent lithium storage systems with power ratings from 30 kilowatt hours through to multiple megawatt hours. TESVOLT uses high-performance battery cells from Samsung SDI. TESVOLT manufactures its commercial storage system solutions in series in its own Gigafactory for commercial battery storage at the Wittenberg site and delivers them worldwide. Since 2014, TESVOLT has implemented more than 4,000 storage system projects worldwide and employs more than 180 people. The company has already received several awards, including the German Entrepreneur Award in the “Rising Stars” category, “Innovator of the Year” from “TOP 100” and the smarter E Award in the “Outstanding Projects” category.
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