Basquevolt, the Álava-based European solid-state technology startup, closes its first round of financing.

The initial investment of €10 million was led by the Basque Government and saw the participation of Iberdrola, CIE Automotive, Enagás, EIT InnoEnergy and CIC EnergiGUNE. The first phase of BASQUEVOLT is based at Álava Technology Park, and its mission is to develop sustainable and economically competitive technologies that enable the mass deployment of electric transport, stationary energy storage and advanced portable applications. The company aspires to be a European leader in solid state technology based on the polymer composite electrolyte, patented as the result of more than 10 years of research carried out by Professor Michel Armand and a number of CIC energiGUNE’s leading researchers. Needless to say, Michel Armand is considered to be one of today’s most relevant researchers in the field of Energy worldwide. The first production line is scheduled to start up in 2027, backed by an investment of more than €700 million, and set to generate more than 800 direct jobs.