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Electric vehicle battery startup ONE backed by BMW, Gates-led firm

Electric vehicle battery startup ONE backed by BMW, Gates-led firm

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Michigan-based Our Next Energy, which is developing an advanced battery for electric vehicles, has raised $25 million from investors ranging from German automaker BMW to a clean technology venture firm headed by Microsoft cofounder Bill Gates, the young company said on Monday.

The round was led by Breakthrough Energy Ventures, the investment arm of Breakthrough Energy, founded by Gates in 2015 to support and fund innovations to counter climate change. Among the Kirkland, Washington company’s investments: Battery recycler Redwood Materials, electric aircraft maker ZeroAvia and solid-state battery developer QuantumScape.Read More..

Source : ET

 

Anand Gupta Editor - EQ Int'l Media Network