E44 Ventures
Assembly Line
Munich-based phelas secures €4.1M for its long-duration energy storage tech
Munich-based phelas, a pioneer in the energy storage sector, announced Wednesday that it has secured €4.1M in a seed round of funding. The funding round is led by E44 Ventures, an Israeli climate tech fund, with participation from Axon Partners Group, Deutsche Telekom hub:raum Fund, BNV Partners, other investors, and existing angel investors.
The German company will use the funds to scale its phelas Liquid Air Energy Storage to Megawatt Scale to deploy the systems in the EU.