Connected Energy has secured an additional £15 million in investment from five new major investors.
Caterpillar Venture Capital Inc, the Hinduja Group, Mercuria, OurCrowd and Volvo Energy have joined existing investors Engie New Ventures, Macquarie, and the Low Carbon Innovation Fund 2, to back the energy storage specialist.
The investment will enable Connected Energy to scale up its operations and move into utility scale project development.
Investor interest in Connected Energy is particularly high because it is one of only a handful of companies in the world to have proven that second life vehicle batteries can be used in commercial battery storage systems, with the huge environmental benefit this brings.
Connected Energy already has sixteen operational systems across Europe in Belgium, Germany, the Netherlands and the UK, with its largest at Cranfield University in Bedfordshire, England.
This next phase of investment will enable Connected Energy to scale up its technology and operations in response to a growing energy storage market and increasing international availability of second life batteries.
