Battery storage is a key enabler for renewable energy, electric vehicles and other clean technologies

Birmingham-based battery technology firm, Aceleron, a ‘clean tech’ firm based in Gas Street, Digbeth, won support from the Government’s start-up funding arm Innovate UK and the Faraday Battery Challenge in 2016.

In 2019 Power Engineering reported that Aceleron, an SME, took 4000 of its unique alternative lithium-ion batteries to Kenya in sub-Saharan Africa, where up to 573m people lack access to electricity, in a bid to power people’s homes with cheap and clean energy.

Existing battery technology comes with the problem of battery waste. Most lithium-ion batteries are not designed to be reused or recycled at the end of their average 8-10 year lifespan. Aceleron’s ‘world first’ circular economy approach to energy storage designs wastage out of the battery manufacturing process.

Its batteries are designed to be repaired, reused and upgraded, rather than replaced, unlike traditional lithium-ion batteries supplied to the automotive industry. Most batteries are welded or glued together and components are very difficult to replace, so if one fails, the whole battery stops working and is usually thrown away. Aceleron battery packs are held together by compression so they can be easily disassembled and reused, enabling 99% recyclability. They are easier to service and keep working.

The Business Desk reports today that Aceleron has now secured £2m of investment to meet growing international demand, with plans to double its team over the coming year.

The equity investment of £1.45m was made by BGF (Birmingham office at the Lewis building in Bull St) and the rest came from existing investor Mercia Asset Management. It will enable Aceleron to scale up the production of its circular economy battery technology and expand its reach across global markets.

Andy Gregory, head of investments, UK & Ireland, BGF said: “Aceleron is BGF’s second investment into a pure cleantech company . . . we are now seeing cleantech firms gain greater traction within growing markets, as the spotlight focuses on net zero”.

Tom Horton, an investor at BGF, who has joined the board of Aceleron added: “As the economy takes a decidedly green turn, BGF is pleased to be supporting pioneering companies like Aceleron and playing our role in funding a green economic recovery.”

 

 

 

.