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PowerCo

1664 employees

At PowerCo, we are shaping the battery future. Founded by the Volkswagen Group in 2022, PowerCo is a globally operating battery cell manufacturer with a strong commitment to sustainability. The company, headquartered in Salzgitter, is rooted in Europe and is responsible for the development and production of battery cells, as well as the vertical integration of the value chain. PowerCo is currently ramping-up three cell factories with a combined capacity of up to 200 gigawatt-hours per year: Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada. Our company is dedicated to driving sustainable energy solutions that contribute to a greener future, leveraging our expertise and innovation to make a positive impact on the global energy landscape.

Investor insights

Funding rounds participated in

$513M sweet spot round size

Investor type

Public Company

Basic info

Industry

Renewable Energy Equipment Manufacturing

Sectors

Renewable Energy Equipment Manufacturing

Date founded

2022

Funding rounds raised

Total raised

$513M

from 1 investors over 1 rounds

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PowerCo raised $513M on May 21, 2023

Investors: Government of Canada

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