05 October, 2024Alterity, startup specialized in high-performance modular lithium batteries for mobility and industry, is set to invest in the second phase of its growth plan. This funding, supported by an imminent financing round involving new industrial partners and investment funds, will primarily be allocated to expanding manufacturing capacity at its new facility in Zamudio. Opened this year in the Torrelarragoiti industrial park, the plant will add three new production lines between 2025 and 2026 to complement the two already in operation, focusing on batteries for stationary energy storage systems.
These systems, essential for advancing European decarbonization efforts, allow for energy storage in power grids, photovoltaic installations, and backup systems. According to Joseba Villate, CEO of Alterity, this move underscores the company’s dedication to sustainability and the circular economy, particularly through plans to recycle and reuse batteries at the end of their lifecycle.
Additionally, part of the investment will be directed toward R&D, prototyping, validation, and international market expansion, with an initial focus on Germany, France, and Italy. Alterity, which doubled its revenue last year, aims to triple it in 2024, targeting €3 million. With steady growth and the recent granting of a European patent, the company continues to solidify its position as a leader in innovation and sustainability.
