Limatech Uses Crowdfunding to Develop its Lithium Batteries

In two months, the start-up Limatech raised 1 million euros from 331 financing intentions on its website. Confident, Florence Robin, the founder and president of Limatech, whose headquarters are in Toulouse and which manufactures lithium batteries for aeronautics in Voreppe (Isère), is preparing to launch, in June, a campaign for raise a total of 2.5 million euros. “It’s huge and promising,” said Florence Robin. All that remains is to select the participatory platform.

This opening of capital is part of an overall fundraising of 20 million euros, which is largely carried out from investors, business angels and family funds. To support its development, Limatech had already carried out a first crowdfunding campaign in 2019 which allowed it to raise 600,000 euros. The objective of this is to produce 500 batteries per year and to increase the rate to reach 30,000 copies in 2028.

Limatech production line inaugurated in July

For this, the factory near Grenoble, which employs around thirty employees, has expanded to equip itself with a small series production line. This new building, partly financed by the “First Factory” call for projects from the France 2030 plan, will be inaugurated on July 11, 2024.

Created in 2016 following a spin-off from the CEA in Grenoble, the young company Limatech has designed a lithium battery equipped with sophisticated electronics, which makes it more reliable and allows it to last longer than competing models, claims the ‘business.

It also has the particularity, with its six kilos, of being three times lighter than a nickel-cadmium or lead battery. “Its installation allowed a weight reduction of 120 kilos for an Airbus A320 and 25 kilos for a helicopter,” said Florence Robin. “This reduction therefore reduces the CO2 emissions of devices.”

But competition is tough on the global battery market, which is currently shared by six major groups. In terms of lithium batteries, Limatech is in competition with the American True Blue Power.

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(Featured image by kreatikar via Pixabay)

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First published in TOULECO. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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