Korys has invested in the German domestic battery company VoltStorage.
Korys, the investment vehicle of the Colruyt family, will acquire a stake in the German start-up VoltStorage, which specializes in domestic batteries intended to store electricity produced by photovoltaic installations, De Tijd and L’Echo report on Wednesday.
In the company of several investors, including the German public fund Bayern Capital, the serial entrepreneur Matthias Willenbacher and the Dutch company EIT Inno Energy, Korys is therefore contributing to a funding round of 6 million euros in exchange for a percentage, kept secret, of the young VoltStorage shoot.
Its product, a home battery like Tesla’s Powerwall, aims to recover the energy produced by private solar panels that is not immediately consumed. In this way, it intends to promote the self-consumption of the owners of these installations and, thus, to further reduce their dependence on the network. The subtlety, however, is that the technology behind the battery is different from that usually found in competitive products. Here, it is a question of “redox flow” and vanadium, not lithium.
For marketing in Belgium, however, you will have to be patient. VoltStorage still has to grow. “Korys’ objective is not to achieve rapid commercialization of the product in Belgium, but to support VoltStorage in its development,” said Loïc de Schaetzen, director of investments at Korys.