Rebaba collects SEK 44 million - gives electric car batteries a second life

- Demand is accelerating globally, and the batteries are already available. Our job is to make reuse scalable, says CEO and co-founder Paula Runsten to Dagens industri.

Rebaba's business idea is to reuse electric car batteries that have been discarded, but are still usable. Most often, more than 80 percent of the original capacity remains in the batteries that are considered to have done their part in the automotive industry. With proprietary technology, the company builds energy storage systems for everything from commercial properties and industry to charging infrastructure.

Customers include the fuel company OKQ8 and, despite its young age – the company was founded as late as 2023 – Rebaba has developed collaborations with recycling companies, including Stena Recycling, which supplies the upstart with electric car batteries.

- It will be a very good collaboration, which creates added value both for them and for us. We have far more batteries than we can take care of, says Paula Runsten.

The company now feels that it is time for the next step. The recently concluded funding round, which was led by Sistafund – a fund that focuses on fast-growing technology companies founded by women – has brought in a total of SEK 44 million. Now new markets await.

- We are in the process of selling out our capacity, so the purpose of the capital injection is to grow and scale, both in Sweden and Europe, says Paula Runsten.

The company, which has its production facility on Lidingö, believes that they now need to grow to catch up. But despite the great demand, it is important to keep prices low.

- Our whole vision is to democratize access to sustainable, cheap electricity throughout the world. If you want to do that, you can't have premium prices. We base our entire justification for existence on the fact that we should not have green premiums, but that we should compete both in price and performance, says Paula Runsten.

To meet the increased demand, Rebaba is now planning to hire more employees to the team, which today consists of 16 people.