Munich-based TWAICE secures €24 million EIB loan to scale predictive battery analytics for Europe’s energy transition
Munich-based TWAICE has secured a significant €24 million loan from the European Investment Bank (EIB), signalling a crucial boost for its predictive battery analytics platform. This funding is earmarked to scale operations, particularly within the rapidly expanding electric vehicle and battery energy storage sectors, which are cornerstones of Europe's ambitious energy transition. The investment underscores a growing European commitment to fostering indigenous technological leadership in critical green energy components. The financing will enable TWAICE to enhance its software's capabilities in predicting battery degradation and optimizing performance, directly contributing to longer battery lifespans and improved efficiency. By analyzing vast amounts of real-time and historical data, TWAICE accelerates innovation in battery cell design and control software, facilitating quicker market entry for enhanced battery solutions and a lower total cost of ownership. This technical advancement is pivotal for increasing the reliability and economic viability of renewable energy storage. The impact of TWAICE’s technology is far-reaching, affecting battery manufacturers, electric vehicle companies, and energy storage operators across Europe. Through automated reporting and streamlined workflows, the platform aims to reduce analyst time per asset by up to 90% while delivering an average of 5% improvement in recoverable energy. This operational efficiency and performance enhancement are vital for managing the growing complexity of distributed energy systems and ensuring the economic sustainability of the energy transition.
Curated and translated by Europe Digital for our multilingual European audience.
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