Accure Battery Intelligence has secured €7.2m (US$7.8m) in funding for its software, which uses data, AI and physics-based modeling to monitor and improve battery performance, safety and longevity. Accure’s software uses data, AI and physics-based modeling to monitor and improve battery performance, safety and longevity.
The funding comes amid soaring battery demand and the need to improve their operation. In the US, the Inflation Reduction Act has allocated billions to build and operate renewable energy, energy storage, electric vehicles, and other battery products.
The round of investment was led by Blue Bear Capital and HSBC Asset Management, and included Riverstone Ventures and Capnamic Ventures.
Accure say the funding will be used to accelerate its growth and provide comprehensive battery asset health and monitoring solutions to businesses worldwide across energy, electric vehicles, transit, marine, insurance and other industries.
Accure’s predictive analytics platform uses AI, field data and modeling to detect irregular battery cell behavior, and provide an independent third-party view of battery health.
It says its platform gives fleet operators and energy storage providers more control and weeks of lead time to: address critical issues, ensure battery systems run safely and at claimed manufacturer levels, and maximize asset value.
“ACCURE is on a mission to improve battery safety, reliability, and longevity,” said Dr. Kai-Philipp Kairies, co-founder and CEO at Accure.
Accure notes its solutions have led to the prevention of over 50 battery incidents, and have significantly increased the performance and output of utility-scale storage systems around the world.
“Our predictive analytics software already supports more than three gigawatt-hours of storage, preventing numerous battery incidents, and most importantly, our customers now have peace of mind knowing that an independent and trusted partner is ensuring safe, high-performing systems,” added Kairies.