Aceleron’s batteries are designed to be repaired, reused and upgraded, rather than replaced, meaning that they are more resilient, reduce future waste and provide significantly better economics over a longer life cycle than conventional technologies, ultimately ensuring long-term sustainability.
“It’s now or never for the green transition,” says Dr Amrit Chandan, Co-Founder and CEO of Aceleron in Birmingham, UK. “This is a watershed moment for Aceleron and the wider green sector. As we look to sustainably rebuild the economy in the wake of Covid-19, we are seeing governments and companies worldwide recognise that clean energy technology must play a crucial role in building back better."
“We want to blaze a trail for this new, more sustainable green economy. This investment will enable us to significantly increase production to meet growing global demand for truly sustainable battery technology to underpin the clean energy revolution.”
The £2m (€2.3m) investment will support Aceleron to meet growing international demand, with plans to double its team over the coming year. The company will focus on deploying its products within emerging markets such as Sub Saharan Africa and Latin America) as well as its existing business in the UK and Europe. It will also expand into new market is in the US and India for the commercial and industrial markets.
The company has 12V, 24V and 48V systems with Lithium Iron Phosphate (LFP) cells and a common battery management that is designed to be easily dismantled and components replaced. The intelligent management software allows remote performance monitoring to enhance battery life. This allows Aceleron to replace or upgrade components when they degrade or when improved products are available. Regular servicing can multiply battery lifespan as much as eight times, from three to 25 years.
The deal includes £1.45m from BGF, the UK’s most active investor, and the remainder from existing investor Mercia Asset Management.
“Up until now, batteries have unfortunately been treated as a disposable consumer product, without much thought to