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HSBC Asset Management among investors in battery data analytics provider ACCURE

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ACCURE has raised €7.2 million (US$7.8 million) funding for its analytics software solutions that can enable a “proactive approach to safety” in the battery storage industry.  

The Germany-headquartered battery analytics specialist said today that it has secured the investment from funding round leaders Blue Bear Capital, a high-growth tech investment group, and HSBC Asset Management, a subsidiary of the global HSBC Holdings banking and financial services company.

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ACCURE gathers a combination of lab-level and field operation data to forecast and determine the health of batteries, yielding important insights on everything from battery lifetimes to optimal operating schedules. The company’s tech leverages a predictive analytics platform based on AI, field data and modelling.

As readers of Energy-Storage.news will likely know, ACCURE is one of a number of cloud-based battery analytics providers, with CEO Dr Kai-Philip Kairies an occasional commentator on related topics to the site, as well as author of a handful of contributed articles for Energy-Storage.news and our quarterly journal PV Tech Power.

While the largest target market segment for ACCURE and its rivals will likely be the electric vehicle (EV) and wider e-mobility sectors, the solution has an important role to play in the stationary energy storage system (ESS) industry too, CEO Kairies told Energy-Storage.news.

In a 2022 article for PV Tech Power (Vol.32), Kairies wrote about the way cloud-based analytics can be used to predict critical faults in battery energy storage system (BESS) assets and provide insights to correct them before any damage occurs.

“We see the BESS industry adopting a data-centric approach to safety that emphasises anomaly identification before an event occurs. Our customers understand battery data’s important role in maintaining a reliable and safe system,” Kai-Philip Kairies told Energy-Storage.news yesterday.

“With our predictive analytics platform, we can detect potential issues and threats several weeks before escalation into a thermal runaway event.”

The company claimed its solution has prevented more than 50 battery incidents, as well as improving performance and output of utility-scale energy storage systems worldwide. Kairies claimed more than 2.6GWh of battery assets have been onboarded to the platform to date.

According to Kairies, while the capabilities of the platform are “extremely valuable” to BESS asset owners, insurance companies have also taken note, the CEO claimed, with some insurers “offering reduced obligations, deductibles, or even lower premiums” for projects utilising analytics.

“It’s this sort of proactive approach to safety that is going to propel the industry forward,” Kairies said.

The news builds on a US$8 million fundraise for ACCURE in 2022. It also comes shortly after US battery analytics provider Peaxy raised US$12 million in July for its platform Peaxy Lifecycle Intelligence (PLI). Fellow Germany-based rival TWAICE raised US$26 million in 2021.

Cloud-based battery analytics at Energy-Storage.news

Articles

Read exclusive extracts of two articles from our quarterly journal, PV Tech Power (Vol.35) on battery analytics and their role in the commissioning and lifetime of BESS assets, one each from Twaice and ACCURE.

Using battery analytics to support BESS commissioning: A technical deep dive, by Dr Kai-Philip Kairies, ACCURE

Cloud-based analytics for de-risking BESS deployment and operation, by Dr Stephan Rohr, Sebastian Becker, Dr Matthias Simolka, TWAICE

Read the full versions of both articles with a subscription to PV Tech Power, either purchased separately or as part of a subscription to Energy-Storage.news Premium.

Webinars

Watch Energy-Storage.news’ 2023 webinars on battery data analytics and closely related areas. Click the headline to access the on-demand recording (registration required) and get presentation materials, or watch via the embedded YouTube windows below:

How to use AI & machine learning to predict battery lifecycles Q4 2022

This webinar looked at how to build a data-driven foundation for BESS asset management using cloud-based battery analytics, how to leverage existing data from the battery management systems (BMS) and differentiate the role of the BMS from analytics.

Sponsored by HMS Networks, featuring an appearance from ACCURE Battery Intelligence battery expert Jan Figgener

De-risk and protect your battery storage asset from the very start with Digital Commissioning and In-Life Analytics Q2 2023

This webinar looked at the role of cloud-based battery analytics in ensuring battery storage assets get the right commissioning and in-life management.

Sponsored by TWAICE.

The economic benefits of cloud-based battery analytics for energy storage assets Q2 2023

By providing actionable insights into battery performance and enabling predictive maintenance, cloud-based battery analytics can significantly reduce costs and improve the overall efficiency of battery storage systems. This webinar explored the economic benefits of cloud-based battery analytics for battery storage operators.

Sponsored by PowerUP!

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