Endurance opens a financing round of 1.5 million euros to strengthen its international expansion




The lithium-ion battery company for electric mobility Endurance Motive begins the year by opening a new round of investment in which it plans to raise capital worth €1.5 million, as made public in the relevant event on January 13. This line will be used to finance its consolidation in the European market, strengthen the area of Naval -which in 2022 will serve the first orders- and start with the design of the first batteries for electric motorcycles.

«The commitment that we are making from the company for the internationalization and because of the development of new sectors it is very strong, that is why we have opened this new financing through convertible loans to be able to give a new impetus to all the growth that is to come in the next year”, says Ander Muelas, its president.

The development of Strategic plan continues at a good pace and the start of the year could not have been better, in fact “only in the first two weeks of the year we have closed orders worth 1.2 million euros, starting in this way with great force”, adds Muelas .

Specifically, in the Naval area, operations are accelerating, especially after the delivery of the first batteries to an important Galician shipyard and, above all, after the signing with the most important Spanish naval integrator of a package of batteries, the first of which – a 200 kWh/hour prototype – will be delivered in April.

“We look forward to the takeoff of this area with determination during the second half of 2022. We have been working on the design of the products and it is now that part of the investment in this line of investment will go towards obtaining the necessary certifications to make the first deliveries effective”, explains its CEO Carlos Navarro.

This will also be the year in which the company begins to develop the batteries within the area Urban, even anticipating what was foreseen in its strategic plan. And it is that Endurance is designing -together with the technical team of its client- a battery for motorcycles. “The mobility of electric motorcycles it is developing rapidly and this requires us to advance our plan to enter the two-wheel segment by twelve months. During the first quarter of 2022, together with our client, we are going to develop a battery for an electric motorcycle of about 4.8kWh.”

The company also closed a financing agreement dated December 21 with the Swiss firm Nice & Green for a value of 2.4 million euros through «Equity Warrants» during the next twenty-four months. Nice & Green’s commitment is important and this Swiss fund has taken the step of investing due to the great growth potential of the business.

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