Allye, a London, UK-based battery technology and energy storage company, raised £900K in funding.
The round was led by Elbow Beach Capital with participation from Alpha Future Funds.
The company intends to use the funds to manufacture and launch the Max with first systems for industrial users expected in Q3 2023.
Founded by Jonathan Carrier, Jack Levy and Lorenzo Bergamaschi, Allye makes the Max, a mobile energy storage system providing distributed energy storage at the grid edge. The Max combines battery storage technology and intelligent software to bridge the gap between two separate markets: stationary battery energy storage systems (on-grid) and mobile temporary power solutions (off-grid). One system has 300kWh capacity, enough to power a typical factory for two days or 40 homes for a day, with this capacity which can also be increased by connecting several units together.
Allye is targeting a total installed capacity of 3GWh by 2030 and aims to generate £8.5m in revenue in 2024 followed by £45m in 2025.
FinSMEs
11/07/2023