Solid-state battery developer Basquevolt secures investors
Basquevolt was founded in 2022 by Iberdrola, CIE Automotive, Enagás, EIT InnoEnergy, and CIC energiGUNE, together with the Basque Government, to research, develop, and produce solid-state batteries. This innovative battery technology is designed to significantly improve energy density, fast-charging capabilities, safety, and overall performance compared to conventional batteries using liquid electrolytes. Specifically, Basquevolt states that its solid-state electrolyte offers approximately 50% higher energy density than today’s lithium-ion batteries, which translates into a 50% increase in range for electric vehicles without increasing the battery’s size or weight.
To accelerate its path to industrialisation, strengthen its position within the European advanced battery ecosystem, and support the development of a competitive and resilient battery value chain in Europe, Basquevolt has now secured new funding of undisclosed amounts from both a private investor and a public funding pool.
On the one hand, Axon Partners Group, an international investment and consulting firm headquartered in Madrid with a focus on the technology and innovation sector, is joining as an investor. On the other, Basquevolt is receiving public funds through the Centre for the Development of Technology and Innovation (CDTI), part of the Spanish Ministry of Science, Innovation and Universities.
With the new funds, Basquevolt aims to advance its electrolyte production and expand its manufacturing and validation capacities. In parallel, the company will continue collaborating closely with European automotive manufacturers and OEMs to develop and validate solid-state battery technology, ensuring strong alignment with market and industry requirements for large-scale industrialisation.
“Basquevolt represents the type of deep-technology innovation Europe needs to accelerate the energy transition. Their solid-state electrolyte technology combines breakthrough performance with industrial scalability, addressing some of the most critical challenges in next-generation energy storage. At Axon, we are excited to support the team in advancing from technological validation towards large-scale industrial deployment.” said Alvaro Pascual, senior associate at Axon.
“The entry of Axon Partners and the continuous support from CDTI represent a key milestone for BASQUEVOLT at this stage of our development. This operation allows us to accelerate our industrial roadmap and move forward with greater confidence towards the pre-industrialisation of our technology, supported by partners who share our long‑term vision and strategic ambition,” said Pablo Fernández Santos, Basquevolt Managing Director.
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