Wednesday, December 25, 2024
Infrastructure and TechnologyLatestNews

Volvo Energy to partner with Connected Energy

Volvo Energy has signed a Letter of Intent with Connected Energy to jointly develop a new battery energy storage system (BESS), it has announced.

Under the plans, the two companies plan to build a BESS with batteries recovered from Volvo electric buses, trucks and machines, once they have passed their optimal use in the vehicles. The move would create a second life for the batteries, and aims to deliver significant environmental and economic benefits. 

The BESS, which stores and optimises energy from renewable sources, are deployed to provide additional power for commercial buildings and EV charging hubs in areas where grid capacity is limited for EV charging.

Through second life batteries in these systems, it substantially reduces their carbon footprint compared to using new batteries, while also transforming EV batteries into longer-term, valuable assets. 

Typically, EV batteries have up to 80% of their original energy storage capacity when they reach the end of their optimal use in a mobile application, it is claimed. Connected Energy has developed technology to harness this remaining capacity and use it in stationary energy storage applications. 

Matthew Lumsden, CEO of Connected Energy, said: “This is an exciting next step in our existing relationship with Volvo Energy with the potential to enable us to take our technology at scale into the European market. We’re proud to be engaging with Volvo Energy on the development of new second life energy storage solutions. 

“In the coming years, the volumes of returning batteries from first life applications will substantially increase. This represents a key opportunity for OEMs like Volvo Group. Together we have the potential to develop and commercialise second life energy storage systems that make electric vehicles (EVs) even more sustainable.” 

Elisabeth Larsson, Senior Vice President Sales & Services from Volvo Energy said: “The Volvo Group is driven by ensuring that every battery that powers our vehicles is used to its full potential, before being recycled. Repurposing the batteries in line with circular economy principles is good for the environment, good for the consumer, and good for the Volvo Group. 

“Our ambition for a deepened collaboration with Connected Energy announced today will be a key milestone in our mission to move from a linear business model to a circular one by optimizing the batteries’ full lifecycle whilst creating a product that will enable the transition to a world powered by renewable energy.”

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