Sat. Sep 23rd, 2023
    Volvo Partners with Connected Energy to Recycle EV Batteries into Energy Storage Systems

    Volvo has announced a partnership with battery recycler Connected Energy to recycle old electric vehicle (EV) batteries into new energy storage systems. The companies have signed a Letter of Intent to build battery energy storage systems (BESS) hardware, following an investment announced last year. The first prototype may be developed as early as this year, using batteries from Volvo’s electric buses, trucks, and other machines. The BESS systems will be constructed into “containerized systems” and are expected to be launched in Europe by 2025.

    Connected Energy’s CEO, Matthew Lumsden, expressed his excitement about the partnership, stating, “In the coming years, the volumes of returning batteries from first life applications will substantially increase. This represents a key opportunity for OEMs like Volvo Group. Together we have the potential to develop and commercialize second life energy storage systems that make electric vehicles (EVs) even more sustainable.”

    Volvo has been using Connected Energy’s E-STOR system at its facility in Gothenburg, Sweden, to analyze response rates to the electrical grid. The company aims to ensure that every battery powering its vehicles is used to its full potential before being recycled. By repurposing EV batteries, Volvo aims to create a circular business model and optimize the batteries’ full lifecycle, while also enabling the transition to a world powered by renewable energy.

    Recycling EV batteries into energy storage systems allows for a second life for the batteries and significantly reduces their carbon footprint. Connected Energy notes that EV batteries still retain around 80% of their initial energy storage capacities at the end of their use cycles. These energy storage systems can be utilized to manage and store power from renewable sources, as well as provide backup power for the electrical grid, commercial buildings, and EV chargers.

    In addition to Volvo and Connected Energy, Redwood Materials, founded by former Tesla executive JB Straubel, is another company focused on recycling EV batteries. Redwood Materials claims to recover around 95% of metals from EV batteries at the end of their life cycle.

    – Source Article