Element Energy closes Series B following 2.5GWh second life EV battery procurement

(Energy Storage News) – California-based firm Element Energy has raised a US$28 million Series B to accelerate its proprietary BMS-enhanced second life energy storage solution, with 2.5GWh of modules secured already.

The firm has completed the first close of a US$28 million fundraising round, led by technology-focused venture capital (VC) firm Cohort Ventures. The round also saw participation from existing backers including utility Edison International, LG Technology Ventures, the investment arm of the South Korean electronics giant, and VC firms Prelude Ventures and Radar Partners.

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