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July 13, 2023

Allye raises £900K to revolutionize energy storage with repurposed EV batteries

Allye secures £900K to power grid resiliency and slash energy bills with intelligent battery systems

London-based startup Allye has secured £900K in funding to drive innovation in battery technology and energy storage. Led by Elbow Beach Capital, this investment will propel the development and launch of their flagship product, the Max. With plans to install 10,000 units by 2030, Allye aims to transform the energy landscape.

The Max, a groundbreaking mobile energy storage system, bridges the gap between on-grid Battery Energy Storage Systems (BESS) and off-grid power solutions like diesel generators. With its 300kWh capacity and scalability, the Max provides distributed energy storage at the grid edge, empowering industries and communities.

By automating demand-side response and offering grid balancing services, the Max enables more efficient network management and reduces energy costs for end-users by up to 50%. Moreover, as the world's first mobile storage system repurposing healthy battery packs from electric vehicles, it contributes to a sustainable circular economy, slashing CO2 emissions by up to 60%.

Allye's visionary approach brings flexibility, reliability, and environmental consciousness to the forefront of the energy sector. With the support of this funding round, Allye is poised to revolutionize battery technology and shape a greener future.

Jonathan Carrier, CEO of Allye said: “Elbow Beach Capital and Alpha Future Funds share a commitment beyond the financial. They believe smart energy storage can accelerate the decarbonisation of the electricity grid and help businesses and households access cleaner, cheaper energy. This investment will provide us with the platform for future success.”

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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