£1.2 million secured by Dukosi to accelerate smart battery technology

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Battery management technology specialist Dukosi has secured an additional £1.2 million of series A investment to accelerate the development and commercialisation of their smart battery technology.

The latest round for the Edinburgh-based company follows £1 million of investment received in late 2014 from existing shareholders, led by IP Group plc, with Par Equity and the Scottish Investment Bank.

The company’s electronics and software supervises and controls high performance battery systems for electric and hybrid cares, as well as grid energy storage and renewables applications such as wind and solar farms. The battery management systems ensure the safe operation of large batteries, optimise their operational performance and maintain the durability of the battery cells over many years, or even decades, and thousands of charge cycles.

Their disruptive technology is forecast to have a positive impact on the Lithium Ion battery cell market that is predicted by Frost & Sullivan to reach $75 billion by 2020 with an annual growth rate of growth 57 per cent.

Chairman Clive Scrivener explains: “By adding advanced cell modelling and power electronics enhancements, Dukosi is meeting the rapidly growing demands of the automotive and static energy storage industries for more efficient technology. Out disruptive, distributed, cell level approach enables the company to deploy even more cost effective battery solutions to support an accelerating low carbon economy. We believe they have a very bright future ahead of them.”