Lithium-ion battery repair and maintenance specialist NOWOS has announced the successful closure of a €6 million equity funding round to support the expansion of its European operations. The round was led by the impact-focused venture capital firm Shift4Good, alongside Dutch backers Fair Capital Impact Fund and Goeie Grutten Impact Fund. The company is also in the process of securing an additional €3 million in debt financing.
Founded in the Netherlands in 2019, NOWOS began by servicing batteries in the micro-mobility space, catering to e-bikes, e-mopeds, and scooters. Its client portfolio includes vehicle OEMs and fleet operators across Europe such as Swapfiets, Dott, Felyx, Qwic, Voi, Dance, and Fifteen. The firm also partners with Chinese manufacturers including NIU, Phylion, TWS, and Segway-Ninebot, reflecting its commitment to sustainability and international collaboration.
In 2024 alone, NOWOS repaired 310,000 kilograms across 98 different battery models—roughly equivalent to 90,000 batteries.
CEO and serial entrepreneur Prins Doornekamp stated:
“This funding not only recognises the work we’ve done so far but also gives us the resources to accelerate our mission: making battery repair and reuse the standard across Europe.
We especially want to acknowledge our customers—those who trust and work with us in this complex and rapidly evolving space since the beginning.”New Chief Impact Officer Alix Armour added:
“Today, more than 80 per cent of the batteries we receive can be repaired, saving both energy and materials that would otherwise be wasted through premature recycling. In a rapidly growing sector like micro-mobility, repair isn’t just sustainable, it’s economically strategic.”
With the EU mandating 70% material recovery by 2030, the battery repair approach is becoming increasingly viable. Armour noted that repairs are now on average 55% cheaper than replacements, due to escalating raw material prices, regulatory demands, and the push to extend product lifespans.
NOWOS currently operates hubs in the Netherlands and France, with a UK partner. With the fresh funding, the company plans to open new facilities in Poland by 2025 and Germany by 2026. Part of the investment will also go into developing a comprehensive Battery Passport system and enhancing repair protocols to serve a wider variety of battery types and applications.
Lead investor Shift4Good focuses on sustainable mobility.
CEO Prins Doornekamp emphasized:
“We’re gaining a mission-aligned investor with deep knowledge of the transportation and circular economy sectors. Their strategic support, network, and shared vision give us a powerful platform to scale, innovate, and lead in a rapidly evolving industry. This is the kind of partnership that creates long-term impact.”Shift4Good founder Yann Marteil said:
“The circular economy is becoming a standalone sector, especially within transportation, which is a major consumer of raw materials and manufactured goods.
We believe that the B2B model NOWOS is building, with large clients at its core, is the right approach to structure the market. At the same time, their localised repair facilities are especially compelling. It allows them to adapt to local needs and client-specific constraints, which is key in this space.”
Dutch impact funds Fair Capital and Goeie Grutten also joined the round. Marije Schasfoort from Fair Capital remarked:
“NOWOS is a leader in sustainable battery solutions, through extending battery lifespans and reducing waste.
They emphasise the importance of repair for the transition towards a circular economy. Their pioneering position and ability to scale across Europe make them a strong fit for our impact-driven investment approach.”
Looking ahead, NOWOS plans to extend its services beyond micro-mobility to sectors like material handling (e.g., forklifts and AGVs), energy storage systems, power tools, garden equipment, drones, robotics, and medical devices.
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