CEFC backs better battery storage with investment in Relectrify
24 January 2020
The CEFC congratulates Relectrify on the launch of its BMS+Inverter storage technology today. The ground-breaking technology significantly increases storage and reduces the cost of new batteries, as well as giving second life to old batteries.
The CEFC has increased its stake in Relectrify, investing a further $2.5 million through the Innovation Fund to lead the company’s Series A equity raising.
The Relectrify Battery Management System (BMS) +Inverter technology could increase battery storage time by as much as a third and reduce costs by up to half compared to existing market-leading battery offerings.
It uses cell-level battery management systems (BMS) to provide a very high-efficiency AC output without requiring a costly inverter.
Relectrify’s BMS+Inverter is already in operation including in a grid storage pilot with Nissan North America and American Electric Power (AEP), a leading US power company with more than 5 million customers.
Executive Director Innovation Fund Ben Gust said that the CEFC was delighted to see a positive response from the market to Relectrify’s technology.
“Relectrify’s BMS has broad application because it can extend the performance of a wide range of battery types across industrial, residential and grid storage, and in new or used batteries,” Mr Gust said.
“It offers battery and inverter makers additional lifetime and performance from cells and the potential to reduce the cost of the components needed to build battery systems.”
Find out more about the Innovation Fund
Relectrify is a developer of advanced battery control solutions. Founded in Melbourne, Australia in 2015, Relectrify’s technologies demonstrably increase the lifetime and decrease the cost of battery storage systems in homes, industry, the power grid, and beyond.
Media release, 2020