Secondary batteries combined with advanced battery management system (BMS) and inverter technologies offer a cheaper and more sustainable route to stationary storage for a variety of applications. Reelectrify from Australia is one of the leaders in this field. Relectrify’s ReVolve® battery system combines Relectrify’s BMS+ inverter technology with nine second-use electric vehicle batteries to store more than 120kWh of energy. Relectrify’s BMS+Inverter technology is battery level control software combined with unique inverter hardware. Relectrify’s technology has been validated in a number of technology projects and pilots, including with American Electric Power, Counties Energy and IBM Research.
As the market share of EVs continues to grow, this will be a key source of more sustainable stationary storage options. However, Relectrify’s advanced battery-level battery control solutions, which have been proven in all of these projects using secondary batteries, will now also be integrated into new stationary energy storage systems. Relectrify’s BMS + inverter technology replaces traditional battery management systems and inverters with a single electronic system that controls individual cells to generate grid-compliant alternating current (AC) directly from the battery pack. This technology revolutionizes battery storage, extending battery life by a third and reducing power electronics costs by up to 30% compared to conventional battery systems.
As Relectrify scales its business and helps battery storage system manufacturers accelerate adoption of its technology in residential, commercial and industrial, and grid applications in global markets, it just closed a growth funding round led by San Francisco-based Bay Area-based Toyota Ventures. The technology investment arm of global automotive and manufacturing company Toyota. Creative Ventures, a deep tech venture capital firm based in the US and Asia, also joined Reelectrify as a new investor. Relectrify’s existing shareholders – including Clean Energy Finance Australia, Energy Innovation Capital and the venture capital arm of South Korean industrial company GS and European power company EDP – have further increased their investment in Relectrify’s technology.
“Robust energy storage solutions are key to achieving net zero emissions,” said Lisa Coca, partner at Toyota Ventures’ Climate Fund. “Relectrify’s unique battery-level battery control technology has the potential to bring significant cost, lifetime, safety and resiliency advantages to battery systems, whether they are repurposed EV batteries or new stationary energy storage systems. We look forward to supporting the team, Because they contribute to decarbonization by reinventing battery management systems and inverter technology.”
Toyota Ventures is Toyota’s first independent early-stage venture capital firm. Through the Toyota Ventures Climate Fund, the firm invests in early-stage cleantech disruptors such as Relectrify. Toyota Ventures also invests in artificial intelligence, autonomy, mobility, robotics, cloud, smart cities, digital health, fintech and materials through the Toyota Ventures Frontier Fund.
Alex Luce, General Partner at Creative Ventures, said: “Relectrify’s BMS + Inverter technology has the potential to meet the huge global demand for better performing energy storage solutions that are in the global market for energy storage solutions.” At the center of the renewable energy transition.” “As battery storage grows globally, Relectrify’s addressable market is huge and well aligned with our thesis on electrification and the urgent need to deploy energy storage at multiple scales.”
Creative Ventures is a venture capital firm that invests in early-stage companies addressing humanity’s worst crises, with a focus on investing in innovative deep tech companies with global-scale solutions. Addressing urgent climate needs and the energy transition have been key drivers of the company’s investment priorities since its inception.
“Our team at Relectrify is helping the world transition to renewable energy by making battery storage an even more attractive business proposition,” said Relectrify CEO Valentin Muenzel. “We are delighted that Toyota Ventures and Creative Ventures are joining us in our entry into high-capacity battery storage systems, including the use of non-lithium batteries, especially the new lithium-ion batteries.”
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