“In a gray-walled conference room on the outskirts of the medieval Bavarian city of Nördlingen, the Austrian billionaire Michael Tojner is toying with a tiny battery. The coin-sized device is a technological wonder. Measuring just half an inch around, the gizmo packs a hundred times more energy than a household battery ten times its volume, can fully recharge in just 15 minutes and can last five hours on a single charge. A much earlier version powered Neil Armstrong’s camera during the Apollo 11 moon landing. Some of the modern ones famously power Apple’s popular AirPod Pro wireless headphones.”
“The batteries are also a financial wonder. Tojner bought Varta, the company that makes them, for just $40 million in 2007. Two and a half years ago, the serial entrepreneur and venture capitalist floated the company on the Frankfurt Stock Exchange; it now has a market cap of $2.8 billion. Commerzbank estimates that Varta has a more than 50% market share for premium wireless headphone batteries, which boast extraordinary 40% margins.”
Full interview: Forbes
