The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Start-up Allye raises US$1 million for second life battery-powered mobile BESS


New company Allye Energy has raised £900k (US$1.1 million) to scale up production of its mobile battery energy storage system (BESS) using second life EV batteries.

UK-based Allye, which came out of stealth recently, has raised the capital primarily from Elbow Beach Capital (with £650k), with support from Alpha Future Funds.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The money will go towards scaling up production of its Max solution, a mobile BESS unit which Allye claimed is the “world’s first mobile energy storage system to repurpose healthy battery packs from electric vehicles (EV)”.

Repurposing of used EV batteries into BESS units, or second life energy storage, has been covered extensively by

Max is a 300kWh unit that Allye is aiming to deploy as a replacement for diesel generators, which are often used in construction sites but also by the UK’s grid operator National Grid and smaller distribution network operators (DNOs) to maintain regional networks.

It expects to provide its first systems for industrial users in Q3 this year, and is targeting 10,000 Max units by 2030 with an installed capacity of 3GWh. From that year onwards, it wants to install 5,000 units annually. Target revenues for 2024 are £8.5 million with £45 million in 2025.

Allye CEO Jonathan Carrier said in a statement: “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.”

The company also wants to develop solutions for commercial and residential markets.

Allye’s claim of its product being a world-first may be true of a proprietary mobile BESS solution developed in-house by a company, but it is unlikely to be the first time that EV batteries have been configured into such a unit.

Norwegian firm Evyon last year told for Vol.33 of PV Tech Power, Solar Media’s quarterly technical journal for the downstream solar industry, that it was selling its second life BESS solution to companies building charging solutions for construction sites, which would presumably be ‘mobile’ to some extent.

Allye’s founding team of Jonathan Carrier, Jack Levy and Lorenzo Bergamaschi bring automotive industry experience from Arrival, McLaren and Jaguar Land Rover.

Mobile BESS solutions hold much promise thanks to being greener and quieter than diesel generators. US company Moxion recently saw California Governor Gavin Newsom visit its factory in the state which, once operational, promises to have an annual production capacity of 7GWh. Tech giant Amazon recently ordered its products for film and TV production sites.

Read Next

February 26, 2024
Italy-headquartered energy storage solutions provider NHOA Energy grew revenues 33% in 2023 despite a 20% industry-wide drop in prices, it said in its full-year results.
February 26, 2024
BESS route-to-market (RTM) and optimisation firms in the UK are increasingly looking at a wider variety of contracting mechanisms beyond the revenue-share or ‘merchant’ model, developer-operator Eku Energy told
February 22, 2024
The implications of larger projects, revenue streams of projects, and grid connection issues were discussed on a panel at the ESS EU event in London.
February 20, 2024
Battery energy storage system (BESS) integrator Powin will provide developer-operator Pulse Clean Energy with 50MW/110MWh of its Stack750 energy storage system for a UK project.
February 20, 2024
Global energy storage developer Eku Energy has started constructing two UK battery energy storage systems (BESS), totalling 130MWh of capacity.

Most Popular

Email Newsletter