A platform for angel investments in clean-tech and pollution-reduction businesses Clean Electric is a firm that provides energy storage solutions. Climate Angels invested in it and assisted it in raising $2.2 million in a seed round headed by Kalaari Capital.
Additional investors in the round included LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation.
The patented battery technology from Clean Electric aims to solve critical safety and performance problems for EVs like battery fires, lengthy charging periods, and frequent battery replacement. With the money it has obtained, Clean Electric intends to build a factory in Pune that will be able to create 5,000 battery packs each month.
Clean Electric, a company founded in 2020, produces, designs, develops, markets, delivers, and offers after-sales support for cutting-edge energy storage technologies for mobile and stationery storage applications, as well as associated energy infrastructure & services. For 2-wheelers, 3-wheelers, and battery-swapping applications, the business has developed liquid-cooled battery systems.
With several cars OEMs around the nation, the company’s goods have been put through more than 30,000 kilometers of on-road testing. The items should be prepared for certification testing by year’s end and be in compliance with AIS-156 Phase 2 rules, which will be put into effect starting in March 2023.
Along with creating new solutions for quicker charging, renewable energy storage, and battery swapping, Clean Electric also intends to utilise the funding to grow its R&D, sales, and operations staff.
Less than 2% of all vehicles are electric. India needs reliable electric cars and a solid infrastructure for charging them in order to make the transition to an all-electric future. Users find it uncomfortable as current EVs take 3–4 hours to charge, while NBFCs and banks find it challenging to finance these vehicles due to the erratic battery life. In addition, a number of well-known EV OEMs’ vehicles catching fire and producing fatalities has weakened consumer trust and raised questions about safety.
“Our aim is to enable Mankind’s shift from Fossil Fuels, and batteries have been the hardest part of this transformation. By providing dependable, safe, and performant Energy Storage Solutions, we believe we can add immense value to the EV and RE ecosystems,” said Abhinav Roy, Co-Founder, and CTO at Clean Electric.
