MIRAI Power secures Voltares investment to scale 7.3 GW energy storage pipeline

Munich-based energy storage developer MIRAI Power has secured funding from Vienna-based clean energy group Voltares to accelerate the development of its 7.3 GW battery energy storage pipeline. The deal also supports MIRAI’s planned international expansion and execution of its previously announced joint venture with BW ESS in southern Germany.

MIRAI, founded in 2024 by Julian Gerstner and Marco Frascati, is focused on the development, construction, and operation of large-scale battery energy storage systems (BESS) in Germany and other European markets. The company is targeting utility-scale installations in regions with growing renewable penetration and increasing volatility in electricity markets.

Voltares, founded in 2022 by former Zooplus CEO Cornelius Patt, is backing the expansion as part of its “1 Million Tons Initiative,” which aims to avoid one million tonnes of CO₂ by 2030 through clean energy investments.

According to the partners, the investment will enable MIRAI to scale its activities in Germany, begin international development work, and further integrate storage into Voltares’ renewable portfolio. The terms of the investment were not disclosed.

“Voltares is increasingly focused on integrating battery energy storage systems into its renewable energy portfolio,” said Nikolaus Wrabetz, who led the cooperation for Voltares.

Frascati, Managing Director at MIRAI, said the company’s strategy is to build high-quality projects that support a reliable and cost-effective path to decarbonisation. “[This] partnership helps us scale our efforts both in Germany and internationally,” he said.

Germany’s utility-scale BESS market is expanding, with grid connection requests from large-scale storage projects reportedly reaching 340 GW at the start of the year with the battery fleet reaching 19 GWh at the start of 2024.

No specifications for MIRAI’s projects have been publicly released, and it remains unclear which suppliers or EPC contractors will be engaged. The scale of its 7.3 GW pipeline would position it among the larger developers in the European storage market if fully realised.

Voltares operates across three business units, Voltares Energies, Voltares Development, and Voltares Ventures, and focuses on climate-tech investments and renewable infrastructure, with particular attention to underdeveloped regions and co-located BESS applications.