As per Electrive, Libbation, which implements used EV batteries in energy storage systems, wants to offer “a more sustainable and cost-effective battery technology” for the market, reducing the need to import rare resources. The company's engineers developed proprietary algorithms and power control systems to ensure top performance from the installed EV batteries.

The modular designs of the energy storage systems allow Libbation to manufacture them with capacities ranging from 97 kWh to 60 MWh.

Stefan Bahamonde, Libbation CEO, said that "we strongly believe in the transition from electric car batteries to stationary systems as an alternative energy storage system. The successful investment round is a clear indicator of Libattion’s strength and resilience, as well as of our enormous potential for future growth."