BMW i Ventures will invest in Our Next Energy (ONE), a Michigan-based energy storage company that’s working to develop longer-range, lower-cost batteries. ONE will use the investment to scale production of its first products.
ONE has demonstrated two proprietary technologies. The first, called Aries, uses lithium iron phosphate (LFP) chemistry in a structural cell-to-pack architecture that offers high cell-to-pack ratios and system-level energy density, and also eliminates nickel- and cobalt-based chemistries. The second technology, dubbed Gemini, uses ONE’s proprietary energy management system and chemistry in a dual-battery range-extender architecture.
“Our Next Energy is working to fundamentally reinvent the battery while focusing on sustainability, safety and cost—three key factors which will help speed the development and adoption of battery electric vehicles,” said Baris Guzel, Partner at BMW i Ventures.
“BMW i Ventures has a proven track record of successful collaboration with startups with leading technologies to shape future mobility,” said Mujeeb Ijaz, CEO of Our Next Energy.