What is Connected Energy?
Connected Energy specializes in providing second-life battery energy storage systems. Headquartered in Newcastle upon Tyne, United Kingdom, the company leverages used batteries from electric vehicles and other sources to create sustainable energy storage solutions. This approach not only extends the life cycle of valuable battery components but also contributes to grid stability and the broader adoption of renewable energy sources. Their technology addresses a key challenge in the transition to a greener economy: the effective management and repurposing of energy storage assets.
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, Macquarie, Sumitomo Corporation, Turquoise Capital, and Macquarie Bank
Other Financing Round (2022): $18.4M led by Hinduja Group
Key Investors in Connected Energy
ENGIE New Ventures
ENGIE New Ventures is the corporate venture arm of the ENGIE Group, focusing on strategic investments in cleantech and technology startups driving the energy transition. They aim to foster collaborations that enhance innovation and mutual benefits in the energy sector.
Macquarie
Macquarie is a global financial services group providing a comprehensive range of services including asset management, banking, wealth management, and specialist advisory. They operate across 33 markets worldwide, serving both business and consumer clients.
Sumitomo Corporation
Sumitomo Corporation is a major Japanese integrated trading and investment business enterprise. The company engages in a wide range of businesses globally, including mineral resources, energy, machinery, and chemicals.
What's next for Connected Energy?
The recent major strategic investment indicates Connected Energy is poised for significant expansion and technological advancement. This capital will likely be directed towards scaling manufacturing capabilities, enhancing their proprietary energy storage technology, and broadening their market reach, particularly within the enterprise and utility sectors. The company's focus on second-life batteries positions it advantageously in a market increasingly driven by sustainability mandates and the need for efficient energy management solutions. Future developments may include strategic partnerships to secure battery supply chains and expand deployment across new geographical regions, solidifying its role in the global energy transition.
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