California-based Element Energy has raised US$111 million of equity and debt for its proprietary battery management system (BMS) for first and second life battery storage.
Second life energy storage firm Stabl has raised €15 million, while its CEO told Energy-Storage.news the second life market will “struggle with the deteriorating performance of their systems in the coming years”.
Norwegian ‘smart battery’ firm Hagal and China-based lithium-ion battery manufacturer Cospowers Technology have partnered to offer an energy storage solution.
Gigawatt-hours of used EV batteries are now hitting the market, and California-based Element Energy claims it has the ideal BMS platform to scale second life energy storage technology.
California-based firm Element Energy has raised a US$28 million Series B to accelerate its proprietary BMS-enhanced second life energy storage solution, with 2.5GWh of modules secured already.