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 per cent 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.
100 million euros of orders
Tesvolt has been pursuing a dynamic growth strategy for years now. During the ongoing financial year, demand has resulted in incoming orders of almost 100 million euros previously. The company is using innovative products for its energy storage solutions and has recently tapped into important emerging markets.
See also: Pilot project: How solar hydrogen can reduce grid congestion
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. (mfo)
