View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Dashboard
  2. Deals
June 17, 2022

Volvo Energy invests in Connected Energy for second life battery business

Investing SEK50m for 10% in the battery energy storage specialist.

By Graeme Roberts

Volvo Energy has invested in the UK-based, second-life battery energy storage specialist Connected Energy in order to further accelerate the Volvo Group’s battery business and sustainability opportunities.

In its mission to support and secure an attractive and sustainable circular business model for batteries, Volvo Energy is investing SEK50m for 10% in the battery energy storage specialist.

“There is a great deal of untapped potential in the second life use of batteries. This forward leaning investment aims to facilitate the scaling up of second-life battery energy storage systems and further secure circular business opportunities for the forthcoming ramp-up in the group’s second-life battery returns,” said Joachim Rosenberg, president Volvo Energy.

“Together with Connected Energy, we will minimise the environmental impact of batteries that have powered group vehicles. By repurposing the batteries, we obtain the full value from them – from a climate, environment and business perspective.”

“Our collaboration will enable us to optimise the potential for battery reusage and ensure that the resources in the batteries are used effectively,” said Matthew Lumsden, CEO Connected Energy.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto