Owner of Second life battery specialist ECO STOR receives over $100m from X-Elio, Nature Infrastructure Capital and Å Energi Invest

ECO STOR which started as an energy storage developer with the strategy to deploy used EV batteries has received funding from the Spanish ESS firm X-ELIO and the private equity company Nature Infrastructure alongside its previous investors Å Energi Invest (previously Agder Energi Invest).

The actual recipient of the funds is ECO STOR Gmbh which now is the group company, based in Germany, while the original company ECO STOR AS remains in Norway serving as the group's second life specialist.

The shift is another example of how the potential in energy storage systems is simply outpacing any prospect on the second life side which means that companies that once starte with the idea to use old EV batteries rather become pure ESS companies.