Energy Impact Partners LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.5 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure.

Energy Impact Partners

Clim8 Invest develops an app for sustainable investing so people can make an impact on climate change with their savings. Clim8 is a simple way to invest in a sustainable portfolio of carefully selected companies already making a positive impact on climate change. Clim8's mission is to move billions of pounds of investments into clean energy and truly green, sustainable companies.

Clim8 Invest

Future Energy Ventures is a unique venture capital fund that brings together corporate partners and world-class start-ups to shape the future energy landscape.  Future Energy Ventures invests in digital and digitally enabled technologies and business models that have the potential to redefine the future energy landscape. From its operational hubs in Germany, Israel and Silicon Valley, Future Energy Ventures looks for both investments and scaling opportunities for its portfolio globally and new investment opportunities. Future Energy Ventures is the venture capital investment and collaboration platform of E.ON, one of Europe’s largest operators of energy networks and energy-related infrastructure.

Future Energy Ventures

Sustainable Business, Finance, and Decarbonization

Cyan Finance

Dunelm provides advice, assistance & connections to companies & individuals involved in the disruptive changes in the Energy Industry.

Dunelm Energy

ArcTern Ventures is a venture capital fund that provides early-stage capital to cleantech companies. The privately-backed venture capital fund provides early-stage capital to companies developing breakthrough ideas in the cleantech sector. The Fund has developed a unique early-stage investment model through its partnership with MaRS, one of the largest innovation centers in the world.

ArcTern Ventures

National Grid Partners makes and manages strategically and financially attractive investments and leads company-wide innovation efforts. National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc.

National Grid Partners (NGP)

Aviva Ventures is a U.K.-based venture capital firm that invests in digital and new technology businesses.

Aviva Ventures

InMotion Ventures is the venture capital arm of Jaguar Land Rover.  The team collaborates with subject matter experts at JLR to identify and invest in startups shaping the future of the automotive industry. The fund allocates capital and resources to purpose-driven businesses aligned with Jaguar Land Rover’s global strategy, and prioritises environmental and societal impact alongside strategic & financial returns.

InMotion Ventures

WEX Venture Capital invests in early-stage companies focused on electric mobility, including fleet electrification, EV charging solutions, and energy management.

Wex Venture Capital

Ev.energy

Ev.energy is a smart charging software platform for electric vehicles, to reduce carbon emissions and costs. The company was founded in 2018 and is based in London, England.

<div>Ev.energy is a UK-based EV charging software platform. The company has developed a cloud-based, end-to-end platform that optimizes the charging of EVs daily by charging vehicles at optimum times for the grid. The platform provides features such as scheduled charging, charging statistics and insights, zero-cost solar charging, and more to curb EV charging costs.</div>

Electrifying passenger and commercial travel

EV Economy

ev.energy Group Integrates Rolling Energy Resources Under US Operations, Enhancing its EV Charging Optimization Platform

<div>
 
 Ev.energy is a UK-based EV charging software platform. The company has developed a cloud-based, end-to-end platform that optimizes the charging of EVs daily by charging vehicles at optimum times for the grid. The platform provides features such as scheduled charging, charging statistics and insights, zero-cost solar charging, and more to curb EV charging costs.
 
 
 Key customers and partnerships
 
 
 Ev.energy has won over 30 national, regional, and municipal utility contracts and is used by over 100,000 drivers.
 
 
 Notable partnerships of the company include Volkswagen, Siemens, E.ON, AvanGrid, and UK Power Networks, among others.
 
 
 Funding and financials
 
 
 Ev.energy&rsquo;s latest funding was in&nbsp;
 <a href="https://sp-edge.com/updates/20512">
 July 2023
 </a>
 , when it raised USD 33 million in a Series B funding round led by National Grid Partners with participation from Aviva Ventures, WEX Venture Capital, InMotion Ventures, and others. The funds were to be used for global expansion efforts and continued growth initiatives across the UK and North America.
 
 
 
</div>

<div>
 
 SolidEnergy Systems (SES) is a lithium-metal battery developer and manufacturer of battery cells for EVs. SES hybrid Li-metal batteries replace the graphite anode with lithium-metal to improve energy density (to around 400 Wh/kg). SES also uses a hybrid electrolyte&mdash;the battery has a solid protective coating on the lithium-metal anode and a liquid in the cathode, unlike some solid-state batteries (Solid Power and QuantumScape) that are all-solid and free of any liquid. The company&rsquo;s battery is expected to enable a longer driving range (around 500&ndash;600 miles) and is also capable of reaching an 80% charge in under 15 minutes. In 2021, SES was the first company to introduce 100Ah Li-metal cells, globally.
 
 
 SES&rsquo; large format Li-metal EV and eVTOL cells known as &ldquo;Apollo&rdquo; can be customized for different OEM requests. As such, the company has begun pilot-scale manufacturing of 50Ah to 100Ah Li-Metal cells with GM, Hyundai, and Honda at their Shanghai (China) and Chungju (Korea) battery manufacturing facilities. The company aims to commercialize its batteries by 2025. SES 
 <a href="https://investors.ses.ai/news/news-details/2023/SES-to-Host-Battery-World-2023-and-Announce-Worlds-First-Automotive-B-sample-JDA-for-Li-Metal/default.aspx">
 expects
 </a>
 to establish the world&rsquo;s first B-sample Joint Development Agreement (JDA) with an automotive OEM in December 2023.
 
 
 &nbsp;
 Funding and financials
 
 
 In February 2023, SES received an undisclosed amount of cash grants from the South Korean Central Government. Prior to this in April 2021, the company raised USD 139 million in a Series D funding round led by General Motors, while in July 2021, it raised USD 100 million from Hyundai.&nbsp;
 
 
 SES was listed on NYSE through a SPAC merger in February 2022. The deal raised USD 275 million at a valuation of USD 3.6 billion. The proceeds were to be used to accelerate growth and fund key development initiatives.&nbsp;
 
 
 
</div>

Addionics, a British next-gen battery-tech company, develops smart 3D electrodes for EV batteries by optimizing AI-based algorithms. The company states that its tech could improve the cost and performance of any EV battery. The company collaborated with leading automotive OEMs and suppliers in the US and Europe to integrate its technology with lithium-nickel-manganese-cobalt-oxide (NMC), lithium iron phosphate, silicon, lithium polymer battery chemistries, and solid state batteries.In <a href="https://sp-edge.com/updates/27236">February 2024</a>, Addionics reported a planned USD 400 million investment into its US manufacturing facilities to expand domestic EV battery production in the country. The new facilities will produce 3D copper foils to support 90 GWh of battery capacity, annually. The company’s first factory is set to begin production in 2027, with additional plants expected to come online in 2032.Key customers and partnershipsIn June 2022, Addionics <a href="https://sp-edge.com/updates/11083">partnered </a>with Blitz Motors, an Israel based smart electric moped manufacturer, to provide smart 3D electrodes and develop Li-ion batteries. In August 2021, Addionics partnered with the Center of Process Innovation (CPI) and the University of Warwick’s WMG to improve lithium-ion battery cell performance and manufacturing processes. In April 2021, Addionics also partnered with Saint-Gobain Ceramics, a manufacturer of materials for construction, mobility, healthcare, and other industrial segments to develop high-power, high-capacity solid-state batteries for EVs.Funding and financialsIn January 2022, the company raised USD 27 million in Series A funding. The proceeds were to be used to redesign existing battery architecture with Addionics’ Smart 3D Electrodes. The company planned to commercialize its solution by 2024.

Addionics

InoBat is a Slovakian next-generation battery technology company. In November 2020, the company announced the launch of an “intelligent” EV battery. According to the company, this was the first of its kind and was developed through the combination of AI and high throughput (HTP) technology. The use of AI enables the company to develop bespoke batteries within a short period of time, making it possible to cater to the unique needs and power demands of different vehicles and applications. The company’s technology also reduces reliance on cobalt, resulting in higher energy density, with a goal of reaching 330 Wh/kg by the end of 2023 (compared to 250–270 Wh/kg of the highest-density lithium-ion batteries).Key customers and partnerships&nbsp;In November 2021, InoBat partnered with Chinese equipment manufacturer Wuxi Lead to deploy a lithium-ion pilot battery production line in Slovakia. The first batch of batteries was expected to be produced by the end of 2022. In April 2021, the company entered into a partnership with SOR (a producer of city and inter-city buses in Central Europe) to design, develop, and supply batteries for a new electric bus fleet. InoBat also planned to expand its geographic footprint across Europe and globally by building several gigafactories through 2024. In March 2022, Inobat announced plans to deploy a <a href="https://inobatauto.eu/newsroom/inobat-auto-announces-intention-to-build-its-third-gigafactory-in-western-europe/">third facility </a>in Western Europe.In April 2022, InoBat partnered with <a href="https://sp-edge.com/updates/9677">Gigamine</a>, a British battery recycling startup, to reprocess lithium-ion batteries from EVs. In September 2022, Inobat partnered with <a href="https://sp-edge.com/updates/12909">Cosworth</a>, to supply InoBat battery cells for Cosworth’s battery packs in the high-performance automotive marketIn October 2022, InoBat signed an agreement with <a href="https://sp-edge.com/updates/13944">GUS Technology</a>,, for the latter to produce and deliver InoBat’s batteries. During the same month the company signed declarations of intent with the <a href="https://sp-edge.com/updates/13942">Spanish government </a>to construct a new EV battery production facility in Valladolid, Spain. In November 2022, InoBat partnered with <a href="https://sp-edge.com/updates/14473">Ricardo </a>to jointly supply battery cells, modules, and packs to high-performance automotive manufacturers.Funding and financialsIn <a href="https://sp-edge.com/updates/21481">September 2023</a>, InoBat reported that Gotion High-Tech, a Chinese battery developer, acquired a 25% stake in the company. The two companies intend to focus on developing localized battery value chains in Europe, the Middle East, and Africa and will also accelerate R&amp;D across the value chain.In January 2022, InoBat raised an undisclosed amount in a funding round led by Ideanomics, a company promoting electric mobility. The proceeds were to be utilized to support the completion of InoBat’s pilot battery plant in Slovakia by the end of 2022.

InoBat

<div>
 
 Lightyear is a Dutch solar electric car startup. The company develops long-range electric cars that are grid-independent and are equipped with built-in solar panels, permitting longer charge cycles.&nbsp;
 
 
 The company&rsquo;s flagship electric car Lightyear 0 (formerly Lightyear One) has a battery range of 625 km (versus Tesla Model S&rsquo; ~400 km) and has an energy use of 10.5 kWh per 100 kms. Lightyear 0 has a built-in five-square-meter solar panel and was available for pre-order at EUR 250,000 (~USD 272,278) excluding taxes (versus Tesla Model S&rsquo; USD 90,000) as of June 2022.&nbsp;
 
 
 The company reported that Lightyear 0 had begun production in 
 <a href="https://lightyear.one/articles/impact-has-started-lightyear-0-has-gone-into-production">
 November 2022
 </a>
 . However, subsequently in 
 <a href="https://sp-edge.com/updates/15885">
 January 2023
 </a>
 , it announced that the production of Lightyear 0 has been suspended to instead direct resources towards Lightyear 2.&nbsp;
 
 
 Key customers and partnerships
 
 
 The Lightyear 2 model has received over 40,000 subscriptions from individual customers, as well as 21,000 pre-orders from fleet owners such as 
 <a href="https://sp-edge.com/updates/15722">
 Arval
 </a>
 , Athlon, LeasePlan, and MyWheels.
 
 
 In July 2022, Lightyear partnered with 
 <a href="https://sp-edge.com/updates/11799">
 Valmet Automotive
 </a>
 to produce Lightyear 0 at Valmet&rsquo;s manufacturing facility in Uusikaupunki, Finland. A maximum of 946 Lightyear 0&rsquo;s will be produced. Additionally, in August 2022, Lightyear 
 <a href="https://sp-edge.com/updates/12007">
 partnered
 </a>
 with Koenigsegg, a Swedish high-performance sports car manufacturer, to jointly develop innovative EV technologies and optimize Koenigsegg&rsquo;s proprietary technologies to improve the energy efficiencies of Lightyear&rsquo;s second model, Lightyear 2. Additionally, in October 2022, the company acquired the technological design for drivetrain inverters from 
 <a href="https://sp-edge.com/updates/14036">
 Next Level Electronics
 </a>
 .
 
 
 In December 2021, Lightyear announced a 3 year partnership with LeasePlan where it promised 5,000 Lightyear 2 vehicles for its fleet. The company is also partnering with The Sharing Company (Netherlands) to supply 
 <a href="https://sp-edge.com/updates/9823">
 5,000 
 </a>
 Lightyear 2 vehicles for its MyWheels car-sharing platform by 2025.&nbsp;&nbsp;
 
 
 Funding and financials
 
 
 In 
 <a href="https://sp-edge.com/updates/12809">
 September 2022
 </a>
 , Lightyear raised EUR 81 million (~USD 80.4 million) in funding for the production of Lightyear 0 in late 2022 and to also ensure the continued achievement of development milestones for Lightyear 2. In May 2021, Lightyear received a strategic investment of EUR 20 million (~USD 23 million) from the Dutch trading company SHV. In March 2021, the company raised EUR 40.2 million (~USD 48 million) in a venture round led by Zero Point Holding. The funds were expected to support commercialization and growth.
 
</div>

Lightyear

<div>
 
 India-based ION Energy provides battery management system (BMS) hardware and battery intelligence software solutions. The company&rsquo;s &ldquo;Maxwell&rdquo; BMS optimizes lithium-battery use in electric two and three-wheelers, passenger and commercial EVs, industrial EVs, and stationary battery energy storage systems to improve efficiency, safety, and longevity of batteries. The company&rsquo;s battery simulation software Altergo leverages data science and machine learning to extract data from batteries and to mirror its performance on a digital platform for remote monitoring and predictive analysis.
 
 
 As of June 2021, the company had deployed over 60,000 Maxwell units for more than 75 mobility and energy storage customers across 15 countries including India, France, Spain, and the US. Altergo also focused on helping owners and operators of battery fleets to improve the operational efficiency of their assets after deployment. It partnered with the US energy storage developer esVolta to deploy the software across its entire portfolio of battery storage systems totaling 581 MWh.&nbsp;
 
 
 In June 2021, the company raised USD 3.6 million in pre-Series A funding to expand its team, invest in product development, and grow its software business in North America and Europe. 
 
 
 
</div>

ION Energy

Companies developing battery electric cars, SUVs, and pickup trucks

Companies developing commercial BEVs. Includes electric LCVs, trucks, buses, etc.

Companies developing Li-ion EV batteries and battery materials. Includes next-gen advancements in Li-ion batteries (e.g. fast charging batteries, graphite-anode substitutes)

Companies developing EV battery technologies that do not fall under the definition of Li-ion (e.g. solid-state batteries, lithium substitutes, etc.)

Companies offering software solutions to optimize the performance of EV batteries (e.g. charging optimization software, Digital Twin solutions, etc.)

Companies that facilitate EV charging. Includes both charging infrastructure providers and network operators. Also includes vehicle-to-grid technologies.

Battery electric vehicles (BEV) promote sustainable transportation

EV charging networks support the adoption of EVs for sustainable transportation

ANALYST_QUICK_TAKE

<div>
 
 Ev.energy, a UK-based platform for electric vehicle (EV) charging software, was chosen to receive a grant up to $41 million from California Energy Commission's (CEC) “Responsive, Easy Charging Products With Dynamic Signals” (REDWDS) program in order to provide EV charging solutions in the state of California. 
 
 In addition to the grant, certain utilities and Community Choice Aggregators (CCAs) will also match funding. The goal of this initiative is to include EV drivers in charge management programs. Moreover, with this matched funding that contributes to the ChargeWise program, a total of 275,000 EV drivers in California will be provided with facilitated charging solutions.

 The Phase 1 of the ChargeWise program is planned to be launched by Ev.energy in the year 2024, in collaboration with MCE, Silicon Valley Clean Energy, Peninsula Clean Energy, and Southern California Edison. Following the initiation of Phase 1, Ev.energy plans to expand into Phase 2, by late 2024. In this phase, the company aims to extend support to 275,000 drivers, representing 5% of California’s total estimated fleet. The funding and support come from partners in California utilities and CCA.

 </div> Analyst QuickTake: 
 This grant comes following Ev.energy raising USD 33 million in a Series B funding in <a href="https: 
//sp-edge.com/updates/20512"> July 2023 </a> . The company intended to use the funding to expand its global operations and build on its growth across North America and the UK.

Ev.energy

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