Demeter invests in Renault Group's second-life battery project and The Mobility House

April 15, 2019|Zurich

Demeter, a major European investment company for energy and ecological change, announces the establishment of a joint project company and thus enters the growing business field of stationary storage batteries from electric vehicles. The investment in the project company will be made through the Fonds de Modernisation Ecologique des Transports (FMET) managed by Demeter.

The aim of the project company is to set up the largest stationary energy storage system from electric vehicle batteries, which is to be implemented at various locations in France and Germany. The batteries will be supplied by the Renault Group and have a capacity of almost 45 MW at the French sites. The technology and marketing of the storage capacity will be carried out by The Mobility House. The energy from the storage facilities will be used to provide various grid services ranging from peak shaving to balancing energy. The first site of the project will be the Renault plant in Douai (France).

"This project is the first of its kind in France and we are very proud to be part of it. The use of electric vehicle batteries to compensate for fluctuations in the grid is a good example of the closed-loop economy in electric mobility. The project illustrates the mission of FMET: to promote the ecological modernization of transport by contributing to partnerships between the know-how of large industrial groups and successful and innovative companies such as The Mobility House."

Philippe Detours,

General Partner von Demeter

Press contact

Manuela Niklasch

[email protected]+49 152 5695 72 83

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