The company maintains focus on existing client projects while prioritizing R&D innovation, deliberately limiting growth and market development until long-term financing is secured; low production volumes reflect minimized working capital needs. Since 2020, the company has been active in producing heavy duty industrial battery packs for rail, marine and heavy-duty ground vehicles applications.
Cyborg Score Rationale
The company is experiencing short-term liquidity constraints resulting in delayed payments including January salary payments. While revenue increased 39% to CHF 7.4M in H1 2025, operating losses widened to CHF 28.7M. Recent CHF 16.7M financing arrangement in February 2026 provides near-term liquidity but strategic capital structure strengthening remains in progress.
Top Insights
Company specializes in heavy-duty batteries for marine and rail customers; completed CHF 40.06M debt-to-equity conversion in December 2025.
Secured €74.2 million in grant funding from CINEA (European Climate, Infrastructure and Environment Executive Agency).
Appointed new CFO Jens Emrich on March 1, 2026 with 25+ years of international finance leadership in energy and industrial sectors.
Personnel costs decreased 7% year-over-year with 39 FTE reduction, reflecting cost management during liquidity constraints.
Named Competitors
Tesla Energy Megapack — Large-scale stationary energy storage systems
Fluence energy storage — Stationary energy storage for grid-scale applications
BYD Battery Box — Diversified battery and energy storage solutions
Recent Developments
(Mar 2026) New CFO Jens Emrich appointed, effective March 1, 2026, bringing international finance leadership experience
(Feb 2026) CHF 16.7 million financing arrangement secured with strategic partners for operational liquidity
(Dec 2025) CHF 40.06 million debt-to-equity conversion to strengthen balance sheet
(Feb 2026) Short-term liquidity constraints reported with delayed salary payments for January
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