Amazon invested in a BMS startup

This is clearly in line with Amazon’s green goal.

A few days ago, ION Energy, an energy technology start-up company built by new energy companies to build advanced electronics and software platforms, announced that they have raised $3.6 million in Pre-A round of financing. This round of raising Amazon’s Climate Commitment Fund and Silicon Valley to participate in climate investment. According to reports, the company’s early investors are YourNest Venture Capital, Riso Capital, Venture Catalyst, and other angel investors. The newly incorporated funds will be used to develop the ION team to 125+ (currently 70), invest in product development, and expand the software business in North America and Europe.

This startup was founded in 2016 and is headquartered in India. The company operates in France and the United States. ION’s flagship product is a smart battery management platform (BMS) that uses proprietary algorithms to improve battery life and performance. BMS is usually sold as a product or technology license to original equipment manufacturers (OEMs) who are developing lithium-ion batteries and/or electric vehicles.

ION provides three key BMSs: FS-LT, a centralized BMS designed for low-voltage mobile applications, FS-CT, an advanced BMS with high feature density for low-voltage battery systems, and FS-XT, one A high-voltage BMS and high-precision application designed specifically for automobiles.

Amazon invested in a BMS startup

FS-LT (left) and FS-XT (right)

Innovative technologies in ION’s BMS include predictive algorithms, the ability to arrange up to 18 batteries in parallel, the ability to reduce the size of balancing resistors by a factor of six, and compression algorithms to reduce memory and communication bandwidth.

ION Energy’s battery management approach combines its proprietary BMS technology and its battery intelligence platform Edison Analytics. The platform provides parallel connection to achieve higher capacity by increasing ampere hours while maintaining independent voltage levels, master-slave arrangements that allow dynamic expansion of applications, and CAN communication that manages charging control and system interfaces.

Today, the company works with more than 75 customers in the mobile and energy industries in 15 countries, including India, France, Spain, and the United States. Recently, ION announced a partnership with Ray Electric Motors, a Spanish electric scooter start-up company. To date, ION’s customers have deployed 60,000 smart BMSs in electric vehicles and fixed storage systems.

In 2019, as deployments increased, the company recognized the need for specialized battery analysis software and launched Altergo (formerly Edison Analytics). Altergo is currently focused on helping battery pack owners and operators improve the operational efficiency of their assets after deployment. Last year, esVolta, a leading US energy storage developer, announced that it would deploy Altergo in its entire battery storage system portfolio, with a total capacity of 581MWh. Altergo now manages more than 700 MWh of battery storage in the cloud.

In terms of BMS solutions, there are several design challenges. The internal battery has a large number of lithium-ion batteries connected in series and parallel to establish the required total voltage and capacity. Therefore, the internal battery pack topology needs to be designed to allow monitoring of each battery. In addition, the BMS needs to include a mechanism for the BMS to balance the cells. If the batteries are overcharged, they may be damaged and become unsafe. At the same time, if the discharge is below a certain threshold, their capacity may be permanently reduced.

Essentially, BMS is a key factor to improve battery efficiency, thereby reducing energy waste and waste associated with waste batteries. In addition, several BMSs in the ION Energy product portfolio are designed to be used in electric vehicles, providing a forward-looking approach to the realization of more efficient electric vehicles .

This is clearly in line with Amazon’s green goal.

In June 2020, Amazon announced the establishment of the Climate Commitment Fund, a corporate venture capital fund that invests in sustainable and decarbonized technologies. The core goal of the trust is to help Amazon and other companies reach the Paris Agreement 10 years in advance and achieve net zero carbon emissions by 2040. The signatories to the pledge commit to regularly measure and report their greenhouse gas emissions, implement a decarbonization strategy and neutralize any remaining emissions with credible offsets.

The investment plan first provided $2 billion in funding to visionary companies whose products and solutions can have a significant impact in the transition to a low-carbon economy. The recent investment in ION Energy was inspired by ION’s mission to build technologies that can improve the life and performance of lithium-ion batteries. Advanced electronic products and software, such as those being developed by ION, have great potential in helping companies accelerate energy transition and reduce carbon emissions.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/amazon-invested-in-a-bms-startup/
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