Our Next Energy (ONE), a Michigan-based energy storage solutions startup founded in 2020, has successfully closed a $25 million Series A capital raise.
The round was led by Breakthrough Energy Ventures, joined by Assembly Ventures, BMW i Ventures (part of BMW Group), Flex and Volta Energy Technologies.
The presence of BMW indicates that ONE has developed some promising stuff for electric vehicles. ONE's focus is on increasing energy density as well as use cobalt-free chemistries.
"ONE has demonstrated technologies that can double the range of electric vehicles, a key to increasing adoption. In addition to improving range, ONE is focused on lowering cost with cobalt-free chemistries that don't pose a thermal runaway risk."
Two technologies were highlighted by ONE - Aries and Gemini.
Aries is a battery pack consisting of Lithium Iron Phosphate (LFP) prismatic cells in a Structural Cell to Pack approach (there are no modules) with volumetric energy density of 287 Wh/L and cell volumetric ratio of 76%. This solution is expected to enter production in about a year, at the end of 2022.
"The Aries™ battery pack will use Lithium Iron Phosphate (LFP) chemistry in a Structural Cell to Pack™ architecture having the highest known cell to pack ratio of 76%. In simple terms, this has allowed ONE's first production customer to increase range and reduce cost while eliminating nickel- and-cobalt supply chain and safety concerns. "
Features (listed by ONE):
- Structural Cell to Pack architecture yields higher system level energy density, compared to the leading competitor
- Safe and sustainable cathode chemistry(LFP) avoids thermal runaway
- Integrated BMS with triple redundancy for current measurement and overcharge protectio
- Scalable architecture allows for series and parallel configurations
- 3,000 cycles at full depth of discharge intended service life
ONE Aries Specifications:
- Energy 79 kWh
- Chemistry LFP
- Dimensions 1630 x 777 x 288 mm
- Mass 550 kg
- Volume 285 L
- GED 144 Wh/kg
- VED 287 Wh/L
- Volume Cell-to-Pack 76%
- Voltage 348 V
- Peak Power 237 kW
- Cont. Power 119 kW
- Cycle Life (1C/1C) 3000 Cycles
The Aries was recently featured by Munro Live:
The Gemini is something different that appears to be a hybrid battery pack (with two different battery cell chemistries inside, like NIO's hybrid-cell battery pack).
The company describes it as as follow:
Using ONE’s proprietary energy management system and chemistry in a dual battery range extender architecture. By pairing two batteries with a DC-DC convertor we have created the world’s first range extended battery.
This approach yields 450 Wh/L at a system level, further improving range and cost beyond the Aries™ platform. ONE calculates that the Gemini™ architecture will allow conventional trucks and SUVs to travel 700 miles on a single charge.
The types of chemistries are undisclosed, but we guess that any type can be used as long as the company will have access to its characteristics.
What we know is that the volumetric energy density should increase to 450 Wh/l, while the increased capacity should allow achieving a range of up to 700 miles (1,126 km) on a single charge by an SUV. That sounds like well over 100 kWh.
Features (listed by ONE):
- The world’s first range-extended dual-chemistry battery, enabling 700-mile ranges for conventional trucks and SUVs.
- AI technology maximizes each battery’s range, seamlessly distributing power between each battery.
- DC-DC convertor with buck-boost power transfer at 6kW
- 450 Wh/L at a system level—our most efficient and low-cost performance yet
- Advanced chemistry cell designed for high energy density
- Built using safe, sustainable and conflict-free materials
It's great to see the new ideas and we eagerly see the market launch in new EVs.
Baris Guzel, partner at BMW i Ventures said:
"Our Next Energy is working to fundamentally reinvent the battery while focusing on sustainability, safety and cost; three key factors which will help speed the development and adoption of battery electric vehicles. We are convinced that Our Next Energy has the potential to truly transform the space, and we could not be more excited to join their journey."