Germany’s Custom Cells, a battery part manufacturer, has received an investment from P3 Group, a consulting firm that specialises in e-mobility. No figures were disclosed. Shares were acquired from existing shareholders including High-Tech Gründerfonds.
Custom Cells was founded in 2012 and manufactures lithium accumulators for niche markets.
“Companies are currently locked in a battle over battery-cell costs, but this could soon turn into a battle over performance,” said Dr Christop Theis, managing director of P3 Group. The investment gives P3 an insight into how the battery sector is developing whether it’s for use in medical devices or aviation, such as drones.
“The move strengthens our competitiveness in the fiercely contested e-mobility market,” he added.
The investment will help accelerate production and reach new clients, said Torge Thönnessen, founder and co-CEO of Custom Cells.
No figures were available on previous investment raised by Custom Cells.
P3 Group, also based in Germany, is active in 15 countries and provides consultancy services in sectors like automotive, aviation, telecommunications, and energy.