BGF has invested in Acceleron, a UK developer of sustainable and reusable battery solutions.
Aceleron’s circular economy approach to energy storage is designing waste out of the battery manufacturing process, embedding additional sustainability and resilience. Aceleron’s batteries are designed to be repaired, reused and upgraded, rather than replaced, meaning that they are more resilient, reduce future waste and provide significantly better economics over a longer life cycle than conventional technologies, ultimately ensuring long-term sustainability.
Dr Amrit Chandan, Co-Founder and CEO of Aceleron, said: "It’s now or never for the green transition. This is a watershed moment for Aceleron and the wider green sector. As we look to sustainably rebuild the economy in the wake of COVID-19, we are seeing governments and companies worldwide recognise that clean energy technology must play a crucial role in building back better."
Andy Gregory, Head of Investments, UK & Ireland, at BGF added: "Aceleron is BGF’s second investment into a pure clean tech company. Until the past couple of years, these companies have typically been at much earlier stages of their development and not yet ready to become bigger businesses. But we are now seeing clean tech firms gain greater traction within growing markets, as the spotlight focuses in on net zero."
