Connected Energy set to scale up following successful invest

Connected Energy set to scale up following successful investment round


Published: 6 Jan 2021, 14:53
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Image: ENGIE.
Second-life battery storage system company Connected Energy is celebrating a successful investment round with ENGIE New Ventures increasing its strategic investment.
The company uses end-of-life electric vehicle batteries to create energy storage systems, connecting multiple to make a scalable storage solution with a capacity ranging from less than 100kwh up to 15MWh or more.
ENGIE New Ventures, the corporate venture fund of ENGIE, together with LCIF2 and existing investors Sumitomo and Macquarie will help the company expand its operations further.
“With this additional investment we aim to capitalise on our system data to further optimise our technology and continue to scale up our development plans,” explained Matthew Lumsden, CEO of Connected Energy

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