Relectrify builds on lead in battery cell-level control

The CEFC congratulates Relectrify on its latest successful funding round, in which we have increased our commitment to the globally recognised battery technology company by $2.8 million. This brings our total investment in Relectrify to $9 million. Find out more about Relectrify through our case study.

At One Ventures media release

Relectrify builds on lead in battery cell-level control with investment led by At One Ventures

29 May 2024

Relectrify, a world leader in battery cell-level control electronics and software, announced today that it has closed an oversubscribed 17 million AUD funding round led by Silicon Valley-based At One Ventures. The investment enables Relectrify to scale and apply its transformational CellSwitch™ technology to the next generation of battery storage systems for international markets.

Relectrify’s existing investors Toyota Ventures, Australia’s Clean Energy Finance Corporation whose investment is managed by Virescent Ventures, Energy Innovation Capital, GS Futures, Creative Ventures, NOAB Ventures and Relectrify’s Board Chair John Clifford, further increased their investment.

Relectrify’sCellSwitch technology, which has been recognised by CleanTechnica as the world leader in the emerging field of cell-level control for battery systems, achieves game-changing performance improvements for energy storage assets while reducing the cost of systems by eliminating the need for conventional inverters. The technology controls each cell in a battery enabling the extraction of more energy from the system, extending the operational life of a battery storage asset by as much as 30 per cent.

This investment builds on Relectrify’s successful rollout of industrial-scale battery storage systems featuring the CellSwitch technology, which is protected by over 30 granted and pending patents, including in the US, Canada, Europe, South Korea, China, and Japan.

“Relectrify’s cell-level control system not only increases the lifespan of energy storage systems by up to 30 per cent but also dramatically cuts CAPEX by removing the need for inverters while significantly reducing the risk of failures that lead to safety issues like fires,” said Laurie Menoud, founding partner at At One Ventures and new Relectrify board member.

In essence, Relectrify drives down the cost of battery storage, accelerating the shift towards renewable energy and the move away from fossil fuels. We are highly impressed with Relectrify’s technical solution and market traction, and are thrilled to lead this funding round.

Laurie Menoud

Founding Partner, At One Ventures

 At One Ventures is focused on catalyzing a world where humanity becomes a net positive to nature. The firm funds disruptive deep technology, with clear opportunities for radically better unit economics, driving radically better environmental outcomes. At One launched its US$375M Fund II in 2023, with limited partners including the World Wildlife Fund (WWF), the MacArthur Foundation, Temasek's GenZero low-carbon platform, and several high-impact, deep-technology focused family offices.

“We are thrilled to have At One Ventures join Relectrify on our journey to transform battery storage, and welcome Laurie to Relectrify’s Board of Directors,” said Jeff Renaud, Relectrify’s CEO. “At One Ventures shares our vision and commitment to scaling disruptive technology focused on making a positive impact, which directly aligns with Relectrify’s trajectory for growth.”

About Relectrify
Relectrify is engineering the future of battery storage. Its advanced battery control solutions enhance the performance, lifespan and safety of battery systems. With global customers and team members, and its HQ in Melbourne, Australia, Relectrify works in strategic collaboration with battery manufacturers, integrators and companies deploying large volumes of new lithium-ion and non-lithium batteries around the world in homes, industry, the grid and mobility.

About At One Ventures
At One Ventures invests in deep-tech startups catalyzing a world where humanity is a net positive to nature. The team of investors finds, funds, and grows companies that are using disruptive deep tech to upend the unit economics of established industries while dramatically reducing their planetary footprint. To date, At One Ventures has invested in 40 companies, including battery recycler Ascend Elements, de-extinction company Colossal Biosciences, and biodegradable packaging supplier Cruz Foam. For more information, please visit  At One Ventures.