ONE raises additional $65 million, plans U.S. battery factory
Our Next Energy Inc. (ONE), a Novi, Mich.-based energy storage technology company, has raised $65 million in a new funding round led by BMW i Ventures. The company is raising the capital required to build a U.S. cell factory that supports the Aries LFP battery and Gemini dual-chemistry battery for electric vehicles.
The company has signed contracts with four customers totaling more than 25 GWh of energy storage capacity over the next five years, equating to about 300,000 EV battery packs. Its goal is to double the range of EV batteries while decreasing the cost and creating a local supply chain.
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