ELEO: With modular battery systems setting course for Europe

Last year, the company ELEO, founded in 2017, released its first battery systems to the market and now aims to expand across Europe. With its modular battery systems and multi-million investor Lumipol on board, the company sees itself on the right path to becoming a leading European manufacturer of modern battery systems. Originally, in 2014, three students from the Technical University of Eindhoven, Bas Verkaik, Jeroen Bleker, and Bram van Diggelen, founded "Storm," a team of students who collectively gained experience with electromobility; three years, an electric motorcycle, and a world trip later, this evolved into the spin-off SPIKE. Later, this became the name ELEO - Leo from Latin for lion, 'E' for electric.

"The first projects were mainly about gaining experience and sharing our knowledge," says Verkaik. "After a series of assignments, we realized that there is a need for a high-quality battery system, but many manufacturers lack the resources for development."

As ELEO has many customers in the construction industry and in the Netherlands, due to so-called Natura 2000 areas for the protection of flora and fauna, and the associated nitrogen crisis, many construction projects have come to a halt, the idea gradually came to them to develop their own modular batteries.

Bas Verkaik explained:

"A construction project near such an area must not emit nitrogen. This is not possible with a machine running on diesel. In other words, you can no longer win a bid if you do not have electric machines."

In the automotive industry, the trend towards zero emissions is already in full swing, while the construction industry has not yet progressed as far in electrification, according to Bas Verkaik. The company's goal is to initiate and simplify these processes. Therefore, ELEO focuses on all types of battery system applications that are not mass-produced. According to their own statements, this means products produced under 100,000 units.

"Our system is suitable for both an excavator with 600 volts or more, as well as for a much smaller vehicle with 50 volts. Two completely different issues, but we can build customized systems with the same building blocks," said Verkaik.