The battery company is in the black – unlike many customers.
(Photo: obs)
Berlin Batteries play a key role in the future of mobility. Not only in the automotive industry, but also in aviation: Without powerful batteries, air taxis like those from Lilium and Volocopter or electric airplanes don’t stand a chance.
It is also an opportunity for the battery start-up Customcells: The company wants to be one of the most important suppliers in the sector and has now received 60 million euros as part of a Series A financing round for further growth.
“We invest the bulk in the development and production of high-performance battery cells for air taxis and electric aircraft,” announced Dirk Abendroth, head of the company founded in 2012, in an interview with the Handelsblatt. The company with development and production sites in Itzehoe and Tübingen supplies Lilium in Munich, among others.
Financing round with Abacon and Porsche
“We see that air taxis will soon become reality, more and more electric drones are being used and the electrification of classic take-off and landing aircraft is also progressing,” says Abendroth. The quantities are lower compared to the car industry, but the business promises a higher margin. Customcells also offers tailor-made solutions and special applications for the automotive industry.
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Management consultancy Roland Berger estimates the market potential of air taxis at 90 billion US dollars annually by 2050. So far, there are no separate figures for the corresponding battery technology.
The CEO has already identified the next growth areas.
(Photo: Customcells)
Numerous start-ups around the world are currently competing for market leadership in air taxis. So far, however, there have only been test flights, no regular operations. “We want to be the first whose cells are certified for manned flights by the European Aviation Safety Agency (EASA) and the US Federal Aviation Administration (FAA),” says Abendroth.
The venture capitalist World Fund and Abacon from Hamburg led the round of financing. As an existing investor, Porsche AG also injected fresh money through its investment company Porsche Ventures and Vsquared Ventures.
Aerospace and underwater vehicles as additional business areas
Because of the economic crisis, the Ukraine war and the plummeting technology stocks on the stock exchanges, the negotiations were a challenge, according to Abendroth, but successful. He announced that there would be a second closing in the spring, i.e. an increase in the round of financing.
In contrast to its air taxi customers, Customcells is already in the black. According to Abendroth, who has been working for the company since May, the company is generating sales in the tens of millions this year.
>> Read also: The air taxi pioneers are flying – but now things are getting critical for them
The former head of technology at the automotive supplier Continental does not want to stop at air taxis and cars and is already thinking one step ahead. Abendroth wants to expand special applications, such as for underwater vehicles or space travel.
Customcells’ research drive is no coincidence: the company is a spin-off from the Fraunhofer Institute.
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