QuinteQ Energy is now ready to make the next step in the development of its electrical storage system for high power peaks, high cycle requirements and conditions where other storage solutions cannot operate.
Amsterdam, the Netherlands – Milano, Italy
Today, QuinteQ Energy, provider of the world’s most advanced flywheel technology, has entered into an investment agreement with Aorta Holding. This will help QuinteQ to continue on her growth path to bring her kinetic battery storage solution to the first key target markets. This investment round is following previous seed funding from the founder’s team, the Boeing company, EFRO, Rabobank and the Regional Development Corporation OostNL.
With early roots in the US, headquartered in the Netherlands and building on a worldwide exclusive license from the Boeing Company, QuinteQ is bringing to market a high-tech kinetic battery as a much-needed solution for (micro-)grids in the energy transition. QuinteQ’s high-tech flywheel was originally developed for defense and space applications being compact, light and able to deliver over 350.000 cycles with hardly any maintenance cost. With these robust specifications the system can stabilize and optimize grids and microgrids. QuinteQ Energy takes the unique position of shock absorber for the energy transition.
In Q2 2022, QuinteQ will deploy the first 2 systems for the Dutch Ministry of Defense at its technology proving ground, Fieldlab Smartbase. At Fieldlab Smartbase, the Dutch MOD is testing and demonstrating new technologies and solutions in the field of energy, water, wastewater and other applications to reduce its carbon footprint and improve its operational efficiency in military and humanitarian missions. Having the Dutch MOD as a launching customer is a key-strategic anchor for QuinteQ’s growth plans in the segment of off-grid microgrids for defense, remote and island applications.
In parallel, QuinteQ is focusing on applications in the field of e-logistics and e-mobility where the flywheel’s high round trip efficiency, very low standby losses, near-unlimited cycling capability and low levelized cost of storage are a key piece of the business case puzzle to make electrification of this fast-growing market possible. QuinteQ is developing partnerships with key players in the field of material handling & logistics companies, large-scale EV-charging companies and associated energy & solutions companies. One of QuinteQ’s strategic activities revolves around the Fieldlab Industrial Electrification run by the Dutch FME, the employers’ organization for the technology industry in the Netherlands, and other partners to advance industrial and logistical electrification in the Province of Zuid-Holland and the Port of Rotterdam.
“With this significant investment round, our growing team can go ahead full throttle in developing our technology portfolio as well as the specific market opportunities we have identified and keep up with the ever-accelerating pace of the energy transition. The financial backing of Aorta Holding provides a solid foundation and allows us to focus on bringing our unique products to our key-markets and we could not have started the new year off in a better shape than this” says Paul Vosbeek, CEO and Founder of QuinteQ Energy.
“As an investor, we are always looking for high-impact investment opportunities where a unique technology is driven by a strong team, moving into a big market. QuinteQ has all these ingredients in place and we are confident that this investment will provide a significant upside to Aorta but moreover, have a huge impact in the energy transition and support our global battle against climate change” according to Valentijn Borstlap, Investment Lead and Founder of Aorta Holding.