Connected Energy

About Connected Energy

Connected Energy is a UK-based developer of commercial and utility-scale battery energy storage systems (BESS) that utilize second-life electric vehicle (EV) batteries. The company was established to address the environmental challenge of battery disposal and the need for reliable renewable energy storage. The initial idea came from experiences with EV trials, which highlighted grid connection costs and concerns over battery end-of-life. Since 2013, the team has worked to prove the commercial viability of repurposing EV batteries for stationary energy storage. Matthew Lumsden is the company's CEO and Founder.

Connected Energy's business model is centered on the circular economy. The company sources used EV batteries that retain 75-80% of their original capacity and repurposes them into scalable energy storage systems, effectively doubling the batteries' working lives before they are recycled. Its core product, the E-STOR system, is a battery-agnostic solution that provides energy storage for commercial and industrial clients, helping them reduce energy costs, generate revenue, and optimize their use of on-site renewable energy generation. The company also offers a cloud-based energy management platform to automate and optimize the system's performance in real-time. Connected Energy serves a range of clients, including businesses with renewable energy assets and energy utilities, operating systems across the UK and Europe.

The company has established significant partnerships with automotive manufacturers like Renault Group, Jaguar Land Rover, and Volvo Energy to secure a supply of second-life batteries. In 2022, Connected Energy secured £15 million in a funding round from new investors including Caterpillar Venture Capital, the Hinduja Group, Mercuria, OurCrowd, and Volvo Energy, alongside existing investors such as Engie New Ventures and Macquarie. This funding is aimed at scaling its operations, expanding internationally, and developing its first large-scale M-STOR system, planned to be around 20 MW/40 MWh.