Aachen, Germany-based ACCURE Battery Intelligence, a provider of comprehensive solutions to manage battery asset health, announced on Tuesday, August 22, that it has secured €7.2M in a new round of funding.
The round was led by Blue Bear Capital and HSBC Asset Management, along with Riverstone Ventures and Capnamic Ventures.
ACCURE says the funding will enable it to accelerate its growth and provide comprehensive battery asset health and monitoring solutions to businesses worldwide across energy, electric vehicles, transit, marine, insurance, and other industries.
“ACCURE is on a mission to improve battery safety, reliability, and longevity,” says Dr. Kai-Philipp Kairies, Co-Founder and CEO of ACCURE. “Our predictive analytics software supports more than three gigawatt-hours of storage, preventing numerous battery incidents, and most importantly, our customers now have peace of mind knowing that an independent and trusted partner is ensuring safe, high-performing systems.”
ACCURE: Solutions to manage battery asset health
Founded by Dr. Kai-Philipp Kairies, Dr. Johannes Palmer, and Dr. Georg Angenendt, ACCURE provides comprehensive solutions to manage battery asset health to help companies reduce risk, improve performance, and maximise the business value of battery energy storage, electric vehicles, and other applications.
The company’s predictive analytics platform uses AI, field data, and modelling to detect irregular battery cell behaviour and provide an independent third-party view of battery health.
The platform gives fleet operators and energy storage providers more control and weeks of lead time to address critical issues, ensuring battery systems run safely and at claimed manufacturer levels, maximising asset value.
The company’s claims that it has led to the prevention of over 50 battery incidents and has significantly increased the performance and output of utility-scale storage systems worldwide.
Currently, the company supports more than three GWh for customers worldwide, helping optimise the performance and safety of their battery systems.
What the investors say
“We see advanced software like ACCURE’s increasing the safety, output and value of battery assets, becoming one of the most important tools in the global buildout of renewable energy, energy storage, electric vehicles, and other battery-powered infrastructure,” says Dr. Carolin Funk, Partner at Blue Bear Capital.
“As energy and mobility lead the electrification of industries globally, we are excited to be supporting ACCURE to scale their battery intelligence platform,” says Christophe Defert, Head of Climate Technology Investments at HSBC Asset Management. “As the world’s use of batteries grows exponentially in our homes, businesses, vehicles, and electric grids, the need for safety and reliability has never been greater.”
