QuinteQ closes investment round for kinetic battery tech

QuinteQ
Team photograph. Credit: QuinteQ

Dutch energy storage company, QuinteQ Energy, has entered into an investment agreement with Aorta Holding in order to develop the QuinteQ kinetic battery storage solution.

The announcement was made during Enlit Europe in Milan and follows previous seed funding from the founder’s team, the Boeing company, EFRO, Rabobank and the Regional Development Corporation OostNL.

Flywheel technology. Image credit: QuinteQ Energy

QuinteQ’s flywheel was originally developed for defense and space applications being compact, light and able to deliver over 350,000 cycles with little maintenance cost.

According to the company, these specifications make the system suitable for stabilizing and optimizing grids and microgrids.

“With this significant investment round, our growing team can go ahead full throttle in developing our technology portfolio as well as the specific market opportunities we have identified and keep up with the ever-accelerating pace of the energy transition.

“The financial backing of Aorta Holding provides a solid foundation and allows us to focus on bringing our unique products to our key-markets and we could not have started the new year off in a better shape than this” says Paul Vosbeek, CEO and Founder of QuinteQ Energy.

In Q2 2022, QuinteQ will deploy the first two systems for the Dutch Ministry of Defense at its technology proving ground, Fieldlab Smartbase.

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At Fieldlab Smartbase, the Dutch MOD is testing and demonstrating new technologies and solutions in the field of energy, water, wastewater and other applications to reduce its carbon footprint and improve its operational efficiency in military and humanitarian missions.

QuinteQ is focusing on applications in the field of e-logistics and e-mobility where the company believes the flywheel can make a significant impact, considering its round trip efficiency, low standby losses, and cycling capability.

QuinteQ is now focusing on developing partnerships with key players in the field of material handling & logistics companies, large-scale EV-charging companies and associated energy & solutions companies.

“As an investor, we are always looking for high-impact investment opportunities where a unique technology is driven by a strong team, moving into a big market. QuinteQ has all these ingredients in place and we are confident that this investment will provide a significant upside to Aorta but moreover, have a huge impact in the energy transition and support our global battle against climate change” according to Valentijn Borstlap, Investment Lead and Founder of Aorta Holding.

Margien Storm van Leeuwen, Chief Commercial Officer, QuinteQ, joined Enlit Europe in Milan as a speaker in the session: Start-up Investing Landscape: How and Why is it Changing?

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