Aceleron, a Birmingham, UK-based developer of a serviced battery, secured £150k in funding.
Backers included the Midlands Engine Investment Fund’s Proof of Concept & Early Stage Fund, managed by Mercia Fund Managers.
The company intends to use the funds to complete ongoing trials and convert the pilot sales into full-scale commercial orders in preparation for a major fundraising round early next year.
Co-founded by Amrit Chandan and Carlton Cummins, Aceleron developed a lithium battery which can be fully serviced to give it a much longer lifetime. The Circa battery has already made pilot sales for domestic energy storage and electric vehicles and gained approvals to be sold in the EU. has also found a way to turn waste battery components into second-hand batteries.
The company, which is based at Birmingham University’s Bizzinn incubator, with another site at Brunel University, has previously secured £1.2m in grants and £175k in angel investment and is currently negotiating a partnership with a major battery disposal firm.
FinSMEs
03/10/2018