TWAICE predicts how much life a battery has left, which is what decides whether an old electric car battery can be reused, according to its EIC project. Founded in Munich in 2018, it builds software that models battery ageing, a "digital twin" of each battery, from operating data.
The European Innovation Council granted €2,163,875 towards a €3.09 million project that ran from October 2022 to September 2024 to "optimise and automate batteries second life and re-use". According to the CORDIS report, it ran a pilot with carmakers and battery makers on "around 500 used batteries", field trials with bus operators and carmakers, and a partnership with insurers that let repacked batteries carry 5 to 10 year warranties. The company's growth since has come from battery storage: in February 2026 the European Investment Bank lent it €24 million, saying its storage business had "nearly tripled in 2025".
Company file
- Legal entity
- TWAICE Technologies GmbH, Munich; office in Chicago
- Founded
- 2018
- Co-CEO
- Stephan Rohr
- Product
- Battery analytics for electric vehicles and energy storage systems
- Investors
- Energize Ventures, Coatue, Creandum, Cherry Ventures, UVC Partners, Speedinvest
- EIC project
- 1 Oct 2022 to 30 Sep 2024
- EIC funding
- Grant only
Where TWAICE Stands Today
The EIB loan, backed by the EU's InvestEU programme, funds TWAICE's research on analytics for electric vehicle batteries and stationary storage from 2025 to 2028. The bank said TWAICE's software delivered "+5% improvement in recoverable energy" on average and cut analyst time per asset by 80 to 90%. Co-CEO Stephan Rohr said: "As storage operators scale fleets, they need operations that scale with them." Second-life batteries, the subject of the EIC project, are not mentioned in the announcement.
The Technology: Predicting How Batteries Age
The report lists machine learning models that predict battery state of health for single and multiple strings, end-of-life assessment, depth-of-discharge optimisation, patent applications, and ISO 27001 and TÜV certifications. It set up a network linking carmakers, which supply used batteries, repackers and utilities, which buy them.
What the EIC Project Promised, and What CORDIS Shows
The project promised a "predictive analytics and digital twin ecosystem to optimise and automate batteries second life". The report shows pilots, field trials, models, insurance-backed warranties and an ecosystem of partners. It gives no number of batteries actually resold into second life after the pilot.
- State-of-health predictionDeliveredML models, patents filed.
- Second-life pilotsDeliveredAbout 500 batteries.
- Warranties for reused batteriesDelivered5 to 10 years with insurers.
- Second life at scaleNot shownNo volumes published.
What Has Happened Since the Award
Before the EIC award TWAICE had raised a $26 million Series B in May 2021 led by Energize Ventures, and in April 2022 a $30 million extension led by Coatue. We found no other announced financing between 2022 and the 2026 EIB loan.
The Money
TWAICE does not publish revenue. Its accounts are filed in Germany but not freely displayed. The EIB's statement that the storage business nearly tripled in 2025 is the only public measure of growth.
What cannot be checked
TWAICE's revenue and losses, how many storage sites and vehicles it monitors, and how much second-life business the EIC project generated are not public.
Why Europe Should Care
The EIC funded second-life battery work that TWAICE delivered in pilots. The company's commercial success has come in a neighbouring market, analytics for battery storage, which the EU has since backed again through an EIB loan.
What the project promised
An analytics ecosystem to optimise and automate batteries' second life.
What the record shows
Pilots on 500 batteries and warranties with insurers, then growth in storage analytics and a €24M EIB loan.
The Verdict
Delivered, then grew elsewhere
TWAICE did the second-life work the EIC paid for. Its growth since has come from battery storage, where the EU's own bank now lends to it. The second-life market the grant targeted has left no public numbers.
TWAICE has not been asked for comment for this article. It is based entirely on company statements, EIB data, trade press and EU project data, linked throughout.
