US EV battery manufacturer demonstrates 750+ mile range, raises $65 million

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Our Next Energy (ONE) has secured $65 million in a funding round led by BMW i Ventures to scale up its electric vehicle business. The funds add to a $25 million Series A funding round in October that was led by Breakthrough Energy Ventures.

ONE has signed contracts with four automakers and has a five-year, 25GWh energy storage pipeline. This equates to 300,000 electric vehicles, it said. It noted that the latest round of funding will help it begin the site selection process for its first US-based battery factory. It said it will also accelerate R&D in Michigan and San Francisco.

In January, ONE created a proof-of-concept device with 732 miles of range. In another pilot, the company paired a Tesla Model S with an experimental battery with 203.7kWh and an energy density of 416Wh/L. The battery was able to power the Model S at 55 miles per hours for 882 miles on a single charge, as validated by third-party testing.

Continue reading @ pv-magazine.com

 

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Our Next Energy (ONE) has secured $65 million in a funding round led by BMW i Ventures to scale up its electric vehicle business. The funds add to a $25 million Series A funding round in October that was led by Breakthrough Energy Ventures.

ONE has signed contracts with four automakers and has a five-year, 25GWh energy storage pipeline. This equates to 300,000 electric vehicles, it said. It noted that the latest round of funding will help it begin the site selection process for its first US-based battery factory. It said it will also accelerate R&D in Michigan and San Francisco.

In January, ONE created a proof-of-concept device with 732 miles of range. In another pilot, the company paired a Tesla Model S with an experimental battery with 203.7kWh and an energy density of 416Wh/L. The battery was able to power the Model S at 55 miles per hours for 882 miles on a single charge, as validated by third-party testing.

Continue reading @ pv-magazine.com

Wow, I hope they get these built soon, this is truly needed for the EV's to take a better hold and turn the corner on replacing ICE vehicles.