Cologne-based battery startup alteva has secured €1.7 million in pre-seed funding to advance its development of ultra-lightweight batteries aimed at decarbonizing the global transport sector. The funding round was led by HTGF, with participation from UnternehmerTUM Funding for Innovators, NRW.BANK, and notable angel investors. Founded in 2023, alteva specializes in creating batteries that are significantly lighter than current market offerings, enabling the electrification of aircraft, trucks, buses, and heavy-duty applications. This infusion of capital is expected to accelerate the company’s mission to provide cleaner and more sustainable energy storage solutions worldwide.
The transport sector continues to rely heavily on fossil fuels, largely because existing battery technologies are too heavy for practical use in fully electric aircraft and long-distance trucks. Alteva addresses this challenge by developing an innovative ultra-light carbon material with unique physical properties. Their new generation of batteries is up to three times lighter than existing technologies, offering increased energy density and a longer lifespan. Based on research from the German Aerospace Centre (DLR), this technology has the potential to electrify significant portions of the transport sector, paving the way for comprehensive decarbonization of air, long-distance, and heavy goods transport.
The newly acquired capital will primarily be used to complete prototype development. Alteva plans to conduct trials with pilot customers, aiming to move into series production within the next two to three years. This progression is expected to bring the company closer to its goal of transforming society’s interaction with nature through sustainable energy solutions.
Investors have expressed strong support for alteva’s mission. HTGF’s Investment Manager, Maximilian Scholz, highlighted the importance of reducing global dependency on fossil fuels and expressed enthusiasm for supporting alteva’s journey toward the sustainable electrification of transport.
Similarly, Johanna Tjaden-Schulte, a member of the Managing Board at NRW.BANK, emphasized that alteva’s innovative battery technology addresses critical sustainability issues and will aid in transforming the economy. NRW.BANK provides equity capital to pioneering startups to support the successful development and implementation of innovative ideas in North Rhine-Westphalia.
About Alteva
Founded by Aiko Bernehed and Ida Milow, Alteva focuses on developing innovative, ultra-lightweight, and high-performance battery cells for decarbonizing the global transport sector. Building upon research from the German Aerospace Centre (DLR) and supported by prominent investors, the company aims to contribute decisively to the electrification of aviation, long-distance, and heavy goods transport. For more information, please visit alteva.tech.
Source: HTGF
