What is Connected Energy?
Connected Energy specializes in the development and deployment of second-life battery energy storage systems. By extracting value from retired electric vehicle batteries, the company provides a sustainable, cost-effective alternative to traditional lithium-ion storage solutions. This approach not only mitigates the environmental impact of battery disposal but also enhances the resilience of the power grid. Positioned at the intersection of cleantech and industrial energy management, the company serves as a critical player in the global energy transition, offering scalable storage capacity that supports the integration of intermittent renewable energy sources into the national infrastructure.
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 company. Their investments span across industries including automotive, oil, banking, power, media, healthcare and more.
ENGIE New Ventures
ENGIE New Ventures is the corporate venture arm of the ENGIE Group, focusing on strategic investments in cleantech and technology startups that are driving the energy transition.
Macquarie
Macquarie is a global financial services group providing a comprehensive range of services including asset management, renewables development, and specialist advisory.
What's next for Connected Energy?
With the recent capital infusion, Connected Energy is well-positioned to accelerate its international expansion and enhance its proprietary battery management software. The strategic focus will likely shift toward increasing manufacturing throughput and forming deeper partnerships with automotive OEMs to secure a consistent supply of battery modules. As the energy sector continues to prioritize decarbonization, the company's ability to provide reliable, circular energy storage will be pivotal in maintaining its competitive edge. Future growth will likely involve scaling its enterprise-level deployments to meet the rising demand for grid-balancing services across Europe and beyond, ensuring that the company remains at the forefront of the sustainable energy revolution.
See full Connected Energy company page
