Element Energy, based in Menlo Park, CA, develops adaptive battery management systems using proprietary hardware and software algorithms to improve safety, intelligence, and economics of large-format battery systems. Led by CEO Dr. Tony Stratakos, the company seeks to offer its technology across first- and second-life energy storage and EV applications. Its technology is being validated at scale with a 50 MWh pilot project in the United States, expected to be completed in early 2024. Element plans to collect necessary data from the pilot, obtain UL certification, and proceed to commercialize the product. The company closed $111M in financing (equity and debt) to support deployment as the battery storage market grows. The proceeds will be used to support deployment of its adaptive battery management systems.

Total raised

$111M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2023