ReNu Energy has completed a first tranche investment of $250,000 in Vaulta, in a deal that will see the company invest up to $1 million to acquire up to 20% interest in the battery tech firm.
The investment is the fifth in ReNu Energy’s portfolio of renewable and clean energy investments and provides the company with exposure to a technology solution that reduces the creation of battery waste.
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Vaulta batteries are designed for disassembly, enabling replacement or re-purposing of individual cells leading to less battery waste and reduced landfill.
Brisbane-based Vaulta uses composite materials and a smart, streamlined design to developed a lighter and smaller battery case with fewer parts, creating scalable efficiencies and opportunities for manufacturers.
Vaulta’s patented casing design and composite materials are designed for battery repair, re-use and recycling leading to less battery waste and landfill.
“Because we’re not welding the cells, when they come out of that casing they have the same properties as when they went in, and they are better set up for reuse scenarios,” founder Dominic Spooner said.
Vaulta received a federal grant to make the innovative battery casing market-ready, and the company has already signed agreements with leading aerospace and car battery companies.
ReNu chair Boyd White told Business News Australia the investment was one they “could not ignore”.
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“It is an excellent and complementary addition to our portfolio and is structured to gain a strong foothold in a company that has developed and owns an exciting battery casing solution with a very large addressable market,” White said.
“Its streamlined no-weld design is unique, enabling second life and recycling leading to reduced battery waste. Vaulta’s battery case technology works wherever batteries do—from stationary storage and electric vehicles to defence, aerospace, wearable batteries and beyond.”
