3 years ago

Connected Energy Secures £15 Million to Expand Battery Storage Operations

  • Connected Energy, a UK-based second-life battery energy storage specialist, has raised £15 million in funding

  • The company intends to use the funds to expand operations and its development efforts to move into utility-scale project development

  • Backers include Volvo Energy, Caterpillar Venture Capital Inc., the Hinduja Group, Mercuria, and OurCrowd, joining existing investors Engie New Ventures, Macquarie, and the Low Carbon Innovation Fund.

      • ProblemEnergy

      "Second-life battery energy storage systems are not widely available or utilized for commercial purposes"

      Solution

      "Connected Energy offers technology that uses second-life vehicle batteries in commercial battery storage systems, thereby reducing waste and promoting sustainability"

      Covered on