March 2, 2020 @ 10:43 by Richard Dawson
A company which provides a second life for the batteries used in electric vehicles is making good progress in the global low carbon energy market from its base at The Core on the Newcastle Helix development.
Connected Energy is hoping to capitalise on Government plans to ban domestic sales of new diesel and petrol cars by 2035, which it believes will lead to a massive uptake in the number of electric vehicles and batteries in circulation.
By repurposing batteries, Connected Energy can double their lifespan, maximising the value of the embedded carbon and other resources and generating income for customers who sell energy flexibility services to National Grid.
Batteries from the first electric vehicles hit UK roads in 2010 and are now coming to the end of their automotive lives. Using these batteries, Connected Energy is delivering market-ready energy products throughout Europe.
These products give a second life to batteries before they are recycled, whilst also generating an income stream for their hosts.
Founded in 2013, the business has been through years of future planning, market analysis, R&D and several rounds of investment in preparation for scaling up as electric cars become more widely used.
Matthew Lumsden, CEO and founder of Connected Energy said: “If you’re working in renewable energy and future mobility, then Newcastle is a good place to be right now.
“When we moved to The Core, we were a team of two. We now have seven people working from our Newcastle office and 25 in total.
“We have been through several significant funding rounds since we’ve been here and have achieved investment from Australian, French and Japanese companies as well as major R&D investment and innovation partnerships from UK organisations.
“Newcastle Helix is a magnetic location for investors, collaborators and the talented people we need in our teams. And more generally, the North East is fast becoming a destination for offshore renewable energy solutions; which brings with it a wealth of opportunity.”
French multinational electric utility company, ENGIE, are the sole providers of energy to the Newcastle Helix site and in 2017, invested in Connected Energy.
Connected Energy is now working with Newcastle University’s department for electrical engineering to study how automotive batteries degrade alongside other collaborations with Newcastle Helix partners.