Mobility 54 Investment SAS (“Mobility 54”) – the corporate venture capital subsidiary of Toyota Tsusho Corporation (“Toyota Tsusho”) and CFAO SAS (“CFAO”) – invested in Aceleron Limited (“Aceleron”) – engaging in battery rebuild and reuse in UK and Kenya.
The global trend towards carbon neutrality in recent years has led to a huge increase in demand for battery energy storage, which is essential for the energy transition. Africa in particular, is expected to experience a rapid growth (forecast at 11% CAGR 1) in the battery market due to the expansion of solar PV and e-micro mobility use. However, there are many low-cost and low-quality battery on the market so affordable quality products are expected to be introduced from the point of view of safety and cost-of-ownership2.
On the other hand, infrastructure for the disposal of battery is not yet fully developed in Africa and there are many cases that battery is disposed of without proper treatment. As there are concerns about the impact on the environment and human health, it is critical that batteries are deployed which can be easily and locally reused, repurposed, or ultimately recycled.
- About Aceleron
Aceleron was established in 2016 to create the most sustainble ESG positive battery in the world which realise all of the value in the battery, enabling a future where battery waste isn’t a challenge. Its technology has been developed with developing regions in mind as it features technology which is easy to assemble and repair without the need for expensive hi-tech machinary. This compression based technology, coupled with data tools and software to service the batteries effectively is a step change from the conventional battery construction technique of welding cells together which leads to an un-maintanable, difficult to deal waste challenge. For users, this can reduces replacement costs and ensures that the battery technology is truly paying back the carbon used in both construction and recycling of the pack.
The company started operations in Africa in 2021 and has started to assemble repurposed and reconditioned battery packs for local use by the local people. Aceleron is currently producing batteries for electric micro-mobility and stationary energy storage, mainly by procuring cells from waste solar home systems’*3battery in East Africa. With the expansion of Aceleron’s battery, Aceleron contributes to the electrification of mobility and renewable energy sector in Africa.
- Purpose of Investment Mobility 54’s investment in Aceleron envisions to accelerate the carbon neutrality and circular economy in Africa by establising sustanable battery business. Toyota Tsusho and CFAO group will contribute to deploy Aceleron’s business in Africa by leveraging the group’s footprints throughout the continent.
In addition, the group will work with Aceleron to generate a series of synergies with its existing businesses and partners – including a potential collaboration with its e-micro mobility and solar PV businesses.
The group will continue to invest in partners with innovative technologies and services in order to help solve the social and industrial challenges in Africa.
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