Although it is a rapidly growing sector that is popular to tackle carbon emissions, renewables had to continue innovating to alleviate critics’ doubts. First, there was the inconsistent energy supply problem addressed by grid-scale storage systems. Secondly, the main complaint with the engine components of electric vehicles. It is harmful to producing recent investments by Low Carbon Innovation Fund 2, and disposing them is harmful.
On Thursday, Turquoise, a merchant bank specializing in energy, announced that Low Carbon Innovation Fund 2 has completed its third transaction and invested £350,000 in battery specialists.
The connected energy is specialized in reusing electric vehicles’ batteries, and is usually redundant after a capacity drops by just 25%. What they do is take these immersive batteries and reuse them as components of the grid-scale energy storage system needed to smooth out both demand by energy users and supply by wind and solar farms.
Connected energy systems currently range from 300kW behind meter systems to 12MW systems currently under development, and modular times theirs.
Turquoise Managing Director Arinaini commented on the investment in a low-carbon innovation fund 2 electric vehicle battery reuse company.
“Connected energy helps reduce emissions in many innovative ways, such as increasing the value of used batteries, reducing the cost of electric vehicles by reusing the valuable materials of those batteries, and creating energy storage systems that help to broaden adoption of renewable energy. It also has many of the attributes needed to create strong investors’ returns, making the company a perfect match for remittances of LCIF2.”
Considering that the Low Carbon Innovation Fund 2 has UK housing, communities and local governments as management authorities, Energy CEO Matthew Lumsden says he is excited to strengthen his company’s links with local governments.
