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Volvo Vitality has acquired a ten% stake in UK-based second-life battery vitality storage specialist Linked Vitality for 50 million Swedish kroner ($4.93 million). Volvo Vitality is one in every of 5 new traders within the firm.
Volvo Vitality, a enterprise space inside the Volvo Group, is “devoted to offering important assist and infrastructure in the course of the first-life, i.e. when batteries are mounted on automobiles, while subsequently securing dependable and sustainable second-life alternatives previous to battery recycling.”
Linked Vitality is headquartered in Newcastle upon Tyne, and has operations elsewhere within the UK, in addition to in Belgium, Germany and Netherlands. The corporate allows the usage of second-life automobile batteries in business battery storage techniques.
“There’s a substantial amount of untapped potential within the second-life use of batteries,” says Volvo Vitality President Joachim Rosenberg. “This forward-leaning funding goals to facilitate the scaling-up of second-life battery vitality storage techniques and additional safe round enterprise alternatives for the forthcoming ramp-up in Volvo Group’s second-life battery returns. Along with Linked Vitality, we’ll decrease the environmental affect of the batteries which have powered Volvo Group automobiles. By repurposing the batteries, we receive the complete worth from them from a local weather, environmental and enterprise perspective.”
“Our collaboration will allow us to optimize the potential for battery reuse and be sure that the sources within the batteries are used successfully,” says Matthew Lumsden, CEO of Linked Vitality.
Supply: Volvo Vitality
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