The financing round was led by Impact Venture Fund Shift4Good, with contributions from Dutch investors Fair Capital Impact Fund and Goeie Grutten Impact Fund. An additional €3 million in debt financing is currently being raised.
The financing marks a key milestone for CEO and serial entrepreneur Prins Doornekamp, who founded Nowos five years ago. In 2024 alone, the company repaired 310,000 kg of 98 different battery models, equivalent to 90,000 batteries.
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Since its founding in 2019, Nowos initially focused on micro-mobility. With the new financing, the company plans to expand into additional sectors, including energy storage systems (ESS) and material handling equipment such as forklifts and AGVs.
Repair instead of replace
Newly appointed Chief Impact Officer, Alix Armour, emphasises: “Today, more than 80% of the batteries we receive can be repaired, saving both energy and materials that would otherwise be wasted through premature recycling. With the EU aiming for 70% material recovery by 2030, companies can no longer afford to treat batteries as disposable items. Repair is now on average 55% cheaper than replacement, due to rising raw material costs, storage, regulations and growing pressure to extend product lifecycless.”
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Nowos currently operates offices in the Netherlands and France, with a partner in the United Kingdom. The new funding will enable the company to open repair centres in Poland in 2025 and Germany in 2026, expanding its presence to meet growing demand across Europe. Additional investments will focus on further developing the Battery Passport system and scaling repair protocols to accommodate more battery types and use cases. (hcn)
