Basquevolt, a Spanish solid-state battery developer, has announced the entry of Axon Partners Group as a new investor. The company has also secured complementary public funding from the Centre for the Development of Technology and Innovation, under Spain’s Ministry of Science, Innovation and Universities.
Strengthening Europe’s Battery Ecosystem
Founded in 2022 by major stakeholders including Iberdrola, CIE Automotive, Enagás, EIT InnoEnergy, and CIC energiGUNE, along with the Basque Government, Basquevolt is focused on the research, development, and production of solid-state batteries.
These batteries are made to greatly improve energy density, charging speed, safety, and overall performance compared to regular lithium-ion batteries. The company says that its solid-state electrolyte has about 50% more energy density, which could extend the range of electric vehicles by 50% without adding size or weight.
Funding to Drive Industrialisation
The newly secured funding though undisclosed in value will support Basquevolt’s efforts to accelerate industrialisation, strengthen its role within Europe’s advanced battery ecosystem, and contribute to building a resilient battery value chain.
Industry Collaboration and Future Plans
With the new money, Basquevolt plans to improve its electrolyte production processes and build more factories and testing facilities. The company will also keep working closely with European car makers and OEMs to make sure that its technology meets the needs of the industry for widespread use.
Highlighting the significance of the partnership, Alvaro Pascual, Senior Associate at Axon, said, “Basquevolt represents the type of deep-technology innovation Europe needs to accelerate the energy transition… we are excited to support the team in advancing from technological validation towards large-scale industrial deployment.”
Pablo Fernández Santos, Managing Director of Basquevolt, added, “The entry of Axon Partners and the continuous support from CDTI represent a key milestone… allowing us to accelerate our industrial roadmap and move forward with greater confidence towards pre-industrialisation.”
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