Battery development is expensive, time consuming and carbon intensive due to the reliance on physical testing and prototyping. Building expertise and gaining insights using only in-house capabilities is a significant bottleneck for many companies developing battery technology. Battery models reduce the time and cost of these development activities to help businesses lower risk and achieve sustainability goals.
Different types of models allow virtual testing to be used throughout the supply chain - from materials development to second-life applications. Although advanced battery models provide a path to faster innovation in many areas, very few companies are realising the full value of models, and most do not use them at all. Deploying models is challenging due to infrastructure requirements, technology barriers or access to talent.
About:Energy is building the dataset for better decision making across the battery value chain, from mine to end-of-life, helping companies reduce the cost and time to bring innovations to market through a deep-tech software platform. About:Energy mitigates common issues by centralising lab facilities and expertise across multiple domains to provide customers with a complete battery modelling solution.
The company's deep technology expertise originates from the leading battery research programmes at Imperial College London and the University of Birmingham. About:Energy continues to leverage university research to commercialise world-leading technologies, providing them to entire industries.
Why we invested
The global battery market is poised for exponential growth in the coming years. By 2030, it is estimated to reach a market value of £950 billion, with a compound annual growth rate (CAGR) of 23% from 2021. Benchmark Mineral Intelligence's Gigafactory assessment predicts that an additional 343 gigafactories will be constructed by 2031, resulting in a sevenfold increase in capacity to 7,500GWh.
Between 2023 and 2030, approximately £5.32 trillion worth of battery assets are expected to be deployed. About:Energy forecasts that research and development (R&D) spending along the battery value chain will amount to £127 billion in 2030 alone.By leveraging their models, About:Energy aims to drive innovation, cost savings, and sustainability in the rapidly growing battery market.