Accure Battery Intelligence, provider of battery predictive analytics software, has secured €7.2 million ($7.8 million) of investment. The funding will enable it to accelerate its growth in providing battery health and monitoring solutions.
Its products aim to ensure battery safety, performance and extended life for energy storage, electric vehicles and other applications. The investment round was led by Blue Bear Capital and HSBC Asset Management and included Riverstone Holdings and Capnamic Ventures.
The company’s analytics platform uses AI, field data and modelling to detect irregular battery cell behaviour and provide an independent third-party view of the battery’s health.
It claims its system has prevented over 50 battery incidents and has significantly increased the performance and output of utility-scale storage systems world-wide.
Philipp Kairies, co-founder and CEO at Accure said its predictive analytics software supports more than 2.6 GWh of storage.
The company claims companies using its predictive analytics can get improved insurance terms like reduced obligations and deductibles for coverage against property damage, business interruption and more.
A company spokesperson said: “We’re manufacturer and chemistry agnostic, with hundreds of cell types in our data library. Most technologies deployed today are lithium-ion (either NMC or LFP) and we have extensive experience on those fronts. We also have experience with newer chemistries, but field data can be limited due to so few deployments available in the market.”
Photo: Accure Battery Intelligence monitors batteries at BESS facilities like this, owned by the National Renewable Energy Laboratory in Colorado, US. Credit: NREL