2024-08-27 06:00:00
It’s time for industrialization for Wattalps. Created in 2018, the start-up based in Moirans, north of Grenoble (Isère), has just completed a financing of 11 million euros. This round of funding, mainly consisting of equity contributions, brings together its historical investors (EIT InnoEnergy, Eximium, the investment fund of the European Innovation Council) and European venture capital companies (Supernova Invest, Move Energy, Ring Capital). The objective: to accelerate the production and marketing of its immersion-cooled lithium-ion batteries, a patented and doubly certified technology, developed since 2013 in the CEA-Liten laboratories.
In concrete terms, the cells of Wattalps batteries are immersed in a biodegradable, non-toxic, non-flammable and electrically insulating fluid, similar to an oil. The latter allows both to guarantee a better level of safety, particularly in the event of fire, but also to regulate the temperature of the cells in a uniform manner.This allows us to improve its lifespan and performance, even in extreme temperatures from -20°C to +45°C, while remaining sufficiently compact.“, assures Matthieu Desbois-Renaudin, president and co-founder of Wattalps to L’Usine Nouvelle.
A new factory after 2026
These advantages are particularly relevant for intensive-use machines in various sectors: construction, which represents half of the company’s activity, agriculture, mining, municipal vehicles and even, in the future, the maritime and river industry. The start-up with around twenty employees exports more than 80% of its production to eight European countries. Part of the fundraising will be dedicated to its commercial expansion in Europe, and even in Asia and the United States, a country where Wattalps delivered its first customer last May.
Half of this funding envelope will however be dedicated to increasing production. From 2000 batteries per year today, or 50 MWh in total, the latter should be multiplied by four within 18 months.In 2026, we plan to set up at a new site to double our production capacity again.“, adds Manuel Ronco, its general manager and co-founder.
Wattalps is counting on a turnover of over 100 million euros in the next five years, recalling that this should triple in 2024, without however revealing a precise amount. According to the specialist firm Interact Analysisnearly 6 million industrial vehicles are sold each year worldwide, including an estimated 5% of electric vehicles in 2030.
The Isère start-up also plans to invest in expanding its range, by designing larger batteries, while lowering its production costs. Enough to compete with its two main competitors in this technology: Taiwanese Xing Mobility, financed by Japanese agricultural machinery manufacturer Kubota, and Austrian Kreisel, bought in 2022 by American giant John Deere.They are ahead commercially, but our solutions are more efficient“, assures Matthieu Desbois-Renaudin. A high-voltage emulation.
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