PowerUp announces a €5 million round of financing from EDF Pulse Croissance and Supernova Invest

The institute
Published on 12/04/2020

A startup created in 2017 and associate partner of the INES.2S ITE, PowerUp is developing a disruptive technology that embeds 10 years of research and 7 CEA patents. Its solutions optimize the performance and lifespan of lithium-ion batteries to make storage systems more reliable and competitive.

 At a time of energy transition, with an exponential increase in battery volumes, users are replacing their batteries early, as a precautionary measure, creating a real ecological challenge. PowerUp enables sustainable and reliable management of battery fleets with MAP technology, the acronym for the various functions integrated into its product range:

  • Measure battery health during use;         
  • Act and control charging current to extend battery life;  
  • Predict remaining service life and provide predictive maintenance for a fleet of batteries.

PowerUp, with its breakthrough technology for reliable management and extended life of lithium-ion batteries, has just completed a €5 million round of financing from its historic investor Supernova Invest, a business angel and the EDF Pulse Croissance fund. This should enable the company to pursue its development in France and Europe, creating 25 additional jobs within the next two years, and to tackle a new international market, that of massive energy storage (known as ESS for Systèmes de stockage d'Energie).

To address the stationary storage market, PowerUp is launching the INES.2S ITE project to predict the lifespan and predictive maintenance of these stationary storage systems, based on the use of data from operations in real systems.

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