Linked Power, a UK-based battery storage startup, makes use of electrical car batteries which might be on the finish of their first life within the automotive to create power storage methods. The corporate combines as many batteries as crucial for custom-made options with capacities from lower than 100 kilowatt hours to 15 megawatt hours or extra.
ENGIE New Ventures funding
Now ENGIE New Ventures, ENGIE’s company enterprise fund introduced that it has injected funds into Linked Power. The £ 1.2m funding spherical welcomes Low Carbon Innovation Fund 2 alongside present traders ENGIE New Ventures, Sumitomo and Macquarie, amongst others. As well as, there’s an R&D grant from Innovate UK as a part of ENGIE and UKRI’s Clear Progress Innovation Fund.
“We virtually doubled the life of auto batteries and thus vastly elevated the worth created from the sources already constructed into them. Our aim is to supply our finish prospects with bankable power storage methods and our battery provide companions with dependable routes to market their second life batteries, ”stated Matthew Lumsden, CEO of Linked Power. “With this extra funding, our aim is to capitalize on the info in our system to additional optimize our know-how and proceed to develop our growth plans.”
“Linked Power affords ingenious options to answer this want whereas providing a second life to electrical car batteries. His method supplies a strategic match with ENGIE’s ambition to speed up the transition to a carbon-neutral world. Our funding in Linked Power is a key instance of developments in our distributed power administration enterprise equivalent to Zero Emissions Providers (ZES) within the Netherlands and different initiatives in Belgium ”, acknowledged Johann Boukhors, Managing Director of ENGIE New Ventures.
“Investing in British innovators with options for the transition to a clear financial system and attaining web zero by 2050 is of the utmost significance, as our purpose is to construct again higher after difficult instances. It’s improbable to see this primary funding via the Clear Progress Investor Affiliation grow to be a actuality, and we hope it will likely be the primary of many investments that deliver collectively improvements from SMEs, non-public financing in these firms and authorities funding for allow the danger of know-how with sustainable outcomes, “stated Christian Inglis, director of city methods at Innovate UK.
Stationary power storage know-how
Based by Matthew Lumsden in 2010, Linked Power’s stationary power storage know-how, E-STOR, extends the life of electrical car batteries from 5 to 10 years. It’s applied at any time when modular, versatile, short-term or long-term electrical energy storage methods are wanted.
With E-STOR industrial scale power storage methods, finish customers can generate new income, save power prices and make higher use of renewable power technology. Add-on battery methods may help stabilize the present electrical grid or be used to construct self-contained mini-grids. At building websites that require excessive ranges of power for brief intervals, these are in comparison with generator methods which have restricted use by emission restrictions and noise laws.
Linked Power at the moment has methods working within the UK, the Netherlands, Belgium and Germany. As well as, it’s on the lookout for alternatives in different European international locations, Japan, the US and different world markets.