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The innovative Italian startup, Reefilla, an energy storage and mobile power generation speciality company, has sealed a €4.5-million funding round. The round will support the company in its further expansion in Italy and abroad but also for the continuous research and developments, mainly in second life battery technologies.
The funding was led by CDP Venture Capital, through its Green Transition Fund, financed by EU NextGeneration funds. The round also saw contributions from HCapital, which is entering the Italian market for the first time, as well as Azimut, through its AZIMUT ELTIF – Venture Capital ALIcrowd III fund. Other key investors included the Motor Valley Accelerator, an initiative led by CDP Venture Capital in collaboration with Fondazione Modena and UniCredit, and FinPiemonte, through the PiemonteNext fund, aimed at fostering innovation in the Piedmont region.
A Vision for a Circular Energy Economy
Marco Bevilacqua, co-founder and CEO of Reefilla, is proud of the company’s strong interest from both Italian and international investors. It shares the vision of having a circular supply chain focused on battery reuse and providing customized energy solutions for businesses and individuals. “We want to build a future in which energy is responsible, accessible, and emission-free; we are committed to meaningful contribution to this transition,” said Bevilacqua.In 2021, Bevilacqua, Pietro Balda, and Gabriele Bergoglio founded Reefilla from the I3P incubator at the Politecnico di Torino. Among their company’s key products, Fillee is a mobile power charging system designed for electric vehicles that has sparked high demand in the market. Leveraging on the success of Fillee, by 2025, Reefilla aims to have an array of off-grid power solutions, addressing the ever-increasing desire for sustainable energy solutions across multiple sectors.
Scaling Up with New Investments and Products
The new funding round follows on the heels of success that the company has been able to achieve. The company had earlier raised €1 million in 2022, which enabled it to take its solutions to market and develop strategic partnerships with fleet operators and mobility companies. The €4.5 million it has raised now will enable Reefilla to establish a centre of excellence in Turin. This facility will be exclusively used to test and qualify second-life batteries in support of its mission in the creation of sustainable energy solutions. The newly acquired funds will also provide for further development of a next-generation lineup of products that will meet the growth in mobile power storage and energy solution demands.The second-life battery focus is of particular importance because it will offer the possibility of reusing batteries from electric vehicles and other sources, reducing waste and increasing the life of valuable resources. This is important in supporting the growth of sustainable mobility and small-scale electricity storage, which are the key components of reducing CO2 emissions across industries, including households, construction, boating, and mobility.
Green Transition Fund Investment in Sustainable Innovation
Cristina Tomassini is the Senior Partner at the Green Transition Fund, and during the event, she stated how venture capital can drive innovation and establish future companies. She underlined the relevance of the technology used by Reefilla in sustainable mobility and energy storage, focusing on solutions that will accelerate green energy technologies, thus minimizing carbon footprints. According to Tomassini, the focus of Reefilla on second-life batteries is in line with the broader goals of the EU, which are sustainability and emission reduction.
Gonçalo Sousa Coutinho, Associate Partner at HCapital, believes that Reefilla will be able to strengthen its position in the energy storage sector. He said that the support from investors would be very important in helping Reefilla expand its mobile power storage solutions and access new international markets.
Crowdfunding Campaign to Involve the People
Reefilla has also conducted an equity crowdfunding campaign on the Mamacrowd platform, with a target of €800,000. The company opens up its funding round to private investors to be part of the sustainable and innovative energy solutions offered by Reefilla. In doing so, the company helps in democratizing access to green technologies and enables everyone to be part of the energy transition.
Future Prospect of Reefilla
The company, Reefilla, has quite a promising growth trajectory. After the new funding, it is well set to intensify its R&D capabilities and increase scale in operations while entering newer markets overseas. Its approach to using batteries and energy storage also sets it up as a big player in the shift to more sustainable energy sources.The technology being focused on, which involves second-life batteries, does not only address a very crucial issue in the energy storage market but also contributes to the circular economy by reducing waste and making energy storage more affordable and accessible. As the world continues to increase its demand for clean, reliable energy solutions, Reefilla’s technology could be essential in supporting the broader shift towards sustainable mobility and renewable energy sources.
