Industrialtech startup NOWOS is making waves in the world of lithium-ion battery repair and maintenance with its recent €6 million equity funding round. This injection of capital is set to propel the company’s expansion as it seeks to establish itself as a leader in sustainable energy solutions across Europe.
Repairing 90,000 Batteries
In 2024 alone, NOWOS successfully repaired an impressive 310,000 kilograms of batteries encompassing 98 different models. This feat translates to breathing new life into approximately 90,000 batteries that might have otherwise ended up as electronic waste. The CEO of NOWOS, Prins Doornekamp, proudly stated, “This funding not only recognizes the work we’ve done so far but also gives us the resources to accelerate our mission: making battery repair and reuse the standard across Europe.”
A Sustainable Approach
NOWOS initially targeted micro-mobility sectors such as e-bikes and e-scooters when it launched in 2019. By collaborating with prominent vehicle manufacturers and fleet operators like Swapfiets, Voi, and Dance across Europe and China, the company showcased its commitment to sustainability through effective battery repair solutions.
The Impact of Repair
Alix Armour, NOWOS’ Chief Impact Officer emphasized the significance of their work by stating that over 80% of received batteries can be repaired. This approach not only conserves energy and materials but also aligns with the EU’s goal of achieving a 70 percent material recovery rate by 2030. As raw material costs soar and environmental pressures mount, repairing batteries has become economically strategic—costing an average of 55% less than replacement.
An Investor With Vision
The funding round was led by Impact Venture Fund Shift4Good—a global fund dedicated to sustainable transportation solutions. Yann Marteil, founder of Shift4Good highlighted NOWOS’ unique position within the circular economy sector by structuring a business-to-business model focused on large clients while maintaining localized repair facilities tailored to specific needs—an approach he believes is essential for success in this space.
Expanding Horizons
With plans to open new repair hubs in Poland in 2025 and Germany in 2026, NOWOS aims to meet increasing demand while enhancing its services through innovations such as a Battery Passport system. The company is also eyeing growth opportunities beyond micro-mobility into sectors like energy storage systems, robotics, medical devices among others—showcasing its versatile capabilities in contributing towards a sustainable future.
By securing substantial investment and garnering support from impact-driven investors like Fair Capital Impact Fund and Goeie Grutten Impact Fund alongside Shift4Good—NOWOS stands at the forefront of driving positive change in how we perceive battery usage and sustainability across industries.
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