Return secures €835 million financing to expand battery storage capacity in Germany

Amsterdam-based energy storage startup Return has secured €835 million in financing to expand its battery storage capacity in Germany. Deutsche Bank and Rabobank underwrote the portfolio financing to support the company's expansion plans. Return aims to install at least 1 GW of battery storage capacity annually in Germany from 2027, building on its €300 million growth-equity investment in 2025.

CFO Daniel Witvoet explains that the financing will allow Return to scale not just its battery storage capacity but also the financing model, enabling more efficient expansion and responsiveness to customers' evolving needs. This financing comes amidst a series of European investments in battery storage and grid flexibility, including €43 million for Entrix in Germany and €37.3 million for Ore Energy in the Netherlands.

EU-Startups reports the announced investments across Europe total approximately €158.2 million. Deutsche Bank Head of Infrastructure & Energy Origination Dominik Thumfart notes that battery storage plays a crucial role in Germany's energy transition, assisting with optimizing revenue potential and ensuring grid stability. The German financing will enable Return to invest between €750 million and €1.2 billion annually in German battery storage projects, supporting the increasing demand for energy flexibility as the country integrates more renewable energy sources.