Octave and the EIC Accelerator: Car Batteries Given a Second Life

Octave reuses electric car batteries that are no longer used for driving. The Belgian company, founded in 2020, packs such used modules into cabinets that store solar power and trade flexibility on the electricity market, run by its own battery and energy management software.

The European Innovation Council granted €1,012,375 towards a €1.45 million project that ran from December 2022 to April 2025. According to the CORDIS report, it produced "a large-scale 1.75 MWh / 1.47 MW demonstrator" connected to the transmission grid and "delivering certified grid services". In September 2026 Octave raised €10 million and said it had installed more than 200 MWh of storage for over 400 businesses, with revenue of €16 million in 2025.

Where Octave Stands Today

The Series A, completed in September 2026, combines equity and debt and was led by SPDG Growth, the family office of the Périer-D'Ieteren family and an investor since Octave's seed round, with imec.istart, BNP Paribas Fortis and KBC. Octave named Colruyt Group, McDonald's, Eneco, Naturgy and Nextensa among its customers and said it operates in Luxembourg, the Netherlands and Spain, planning local teams in France and Germany. Its about page now describes "both first-life LFP and second-life battery energy storage systems", so not all of its capacity uses second-life batteries. It has also reported that 10 of its clients trade their batteries on the Belgian imbalance market.

The Technology: Mixing Tired Batteries Safely

Used car batteries come in many shapes and states of health, which makes combining them hard. CORDIS reports that the project developed "a modular 19" rack design with a patented module holder and integrated Battery Protection Unit" able to take different electric vehicle modules up to 1,000 volts, and a management system combining edge and cloud software that handles "over one million datapoints per day per system". The project took Octave's systems "from prototypes to TRL8 demonstrators".

What the EIC Project Promised, and What CORDIS Shows

The project promised an "integrated battery and energy management system for second-life battery energy storage". CORDIS reports the rack design, the management system, a 1.75 MWh demonstrator at the Ipalle site and certified grid services. The company's growth since then is on its own figures.

1. Modular second-life hardwareDeliveredPatented rack design.
2. Battery and energy managementDeliveredEdge and cloud iBEMS.
3. Grid-scale demonstratorDelivered1.75 MWh, certified.
4. Commercial scaleDelivered€16M revenue, per company.

What Has Happened Since the Award

The Money

Octave closed a €2 million seed round in June 2022 led by SPDG Ventures and U2P, naming the "EIC Accelerator Fund and Innoviris" among its supporting institutions. The €10 million Series A followed in September 2026. How much the EIC Fund invested, and whether its participation was equity or the grant, is not stated. Revenue of €16 million in 2025, as the company reports it, exceeded all the disclosed funding combined.

Why Europe Should Care

Octave's model puts used car batteries to work in buildings before they are recycled. The EIC paid most of the project that proved its system on the grid, and the company says it has since grown into a business with €16 million in revenue.

The Verdict

Octave has not been asked for comment for this article. It is based entirely on company statements and EU project data, linked throughout.