A handful of companies are trying to get in early and design and deploy ‘second life’ energy storage units using EV batteries ahead of an expected boom in supply in the second half of the 2020s.

Oslo-based second life battery storage solutions firm Evyon has raised €8 million (US$8.3 million) in a pre-Series A fundraising round, led by VC firm Sandwater.

Used electric vehicle (EV) batteries could soon be on the market at a significantly reduced cost that competes with brand new energy storage systems, according to a Bloomberg New Energy Finance (BNEF) report.

So-called ‘second life’ batteries taken from Nissan’s Leaf electric vehicle (EV) will be deployed in commercial-scale energy storage systems in regions including the US, following a deal involving Green Charge Networks.

A new scheme to provide grid-balancing services directly from the batteries of electric vehicles (EVs) will be trialled by car maker BMW, in partnership with California utility company Pacific Gas & Electric (PG&E).