What is Connected Energy?
Connected Energy specializes in the development and deployment of second-life battery energy storage systems. By integrating retired electric vehicle batteries into high-capacity storage units, the company provides a cost-effective and environmentally conscious alternative to traditional grid-scale storage solutions. This approach not only mitigates the environmental impact of battery disposal but also enhances grid stability by providing essential balancing services. Headquartered in Newcastle upon Tyne, the company operates at the intersection of automotive engineering and utility-scale energy management, effectively bridging the gap between the transport and power sectors.
How much funding has Connected Energy raised?
Connected Energy has raised a total of $21.9M across 2 funding rounds:
Other Financing Round
$3.5M
Other Financing Round
$18.4M
Other Financing Round (2019): $3.5M with participation from ENGIE New Ventures, Sumitomo Corporation, Macquarie, Turquoise Capital, and Macquarie Bank
Other Financing Round (2022): $18.4M led by Hinduja Group
Key Investors in Connected Energy
Hinduja Group
The Hinduja Group is a diversified and transnational conglomerate with extensive interests in automotive, power, and banking sectors, providing significant strategic reach.
ENGIE New Ventures
The corporate venture arm of the ENGIE Group, focusing on strategic investments in cleantech startups that facilitate the global energy transition.
Macquarie
A global financial services leader providing comprehensive asset management and advisory services to support large-scale infrastructure and energy projects.
What's next for Connected Energy?
With this latest strategic investment, Connected Energy is poised to accelerate its international expansion and enhance its technological infrastructure. The company is expected to focus on scaling its manufacturing capabilities to meet the rising demand for grid-balancing services across Europe and beyond. Furthermore, the infusion of capital will likely support the refinement of their proprietary battery management software, which is essential for optimizing the performance and longevity of second-life assets. As the energy sector continues to prioritize decarbonization, Connected Energy is well-positioned to leverage its unique market position to drive further innovation in the circular energy economy.
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