Iberdrola, a Spanish electric utility, plans to invest in the solid-state battery startup Basquevolt via its start-up program PERSEO. “Through PERSEO, Iberdrola carries out more than 25 real tests of technologies per year, which serve as a first step towards establishing a commercial relationship or partnership with startups,” says Iberdrola.
Basquevolt plans to establish technological support and a research team at the Alava Technology Park in Spain, and to develop prototype cells and a pilot production line in 2025. The company’s long-term goals are to start producing battery cells in 2027 and to achieve a 10 GWh annual capacity.
Basquevolt has received 700 million euros from investors, including Iberdrola, automotive supplier CIE Automotive, Spanish gas company Enagás, EIT InnoEnergy and research organization CIC energiGUNE.