Russian supercapacitor supplier raises multi-million investment

Titan Power Solution has secured RUR 200 mio ($3.2 mio) from three investment funds – the Far East High Technology Fund, Digital Evolution Ventures (Rosatom’s venture fund), and the I2BF fund.

Titan Power Solution is a developer and manufacturer of high-tech electrical equipment such as supercapacitors and lithium-ion and hybrid sources. It is also a Russian market leader in the field of supercapacitor-based solutions.

The company’s solutions are used in transport, energy and industry – in particular, in electric vehicles and power plants based on renewable energy sources. This year, the company signed a major contract for the supply of supercapacitors for use in wind generators produced by the joint Russian-Dutch company Red Wind B.V. Titan Power Solution products will be installed on 400 wind farms.

According to Yevgeny Kuznetsov, CEO of Orbita Capital Partners (a company that manages Digital Evolution Ventures), the domestic market for supercapacitors and systems based on them was estimated at RUR 1.5 bln ($24.2 mio) in 2019, with a growth potential in the region of RUR 5-10 bln ($80-160 bln) in the next five years.

“This market grows at more than 50% per year. Our venture fund focuses on supporting innovative high-tech projects that transform key infrastructures and sectors of the economy. Supercapacitors and other energy storage systems open up many possibilities for creating smart grids and give new consumer value to regular transport and energy systems,” Yevgeny Kuznetsov said.

The total amount of contracts implemented by Titan Power Solution has so far exceeded RUR 250 mio ($4 mio); its contracts to be implemented in 2020 and after 2020 total about RUR 450 mio ($7.2 mio). The applications for their products include the automotive industry, wind energy, and more.

Alexander Korchevsky, partner and head of the Moscow office at the I2BF fund, added that such technologies are of strategic importance for Russia, and the company has every chance of growing into a transnational one.

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