BatteryLoop, a company which gives electric car batteries a second life as energy storage systems, launched an energy storage system in the spring of 2021 which makes it possible, among other things, to build charging infrastructure in places where the electricity grid suffers power shortages. In collaboration with HiQ, BatteryLoop is now developing a digital platform that makes it possible to maximize power in the charging infrastructure. The digital platform enables an estimate as to how long a battery has left to live, thus its economic value in a circular business model.
– It is fantastic that our team is joining BatteryLoop on this journey. Circular business models and sustainability are important to us at HiQ, and it really shows with this project. There is an incredible amount to do to streamline the use of energy in society and this solution is an important contribution to that process, says Sven Ivar Mørch, CEO of HiQ.
Photo: BatteryLoop/Lars Ardarve
In recent years, electric cars have increased in popularity. Calculations made by the electricity industry's interest group, Power Circle, show that there will be 2.5 million rechargeable vehicles in Sweden by 2030. In line with this development, the need to manage used batteries will increase. BatteryLoop is a Swedish company which gives electric car batteries a second life as energy storage systems. These energy storage systems are suitable for use in properties, logistics centers or harbors – places where we know that many electric vehicles will share the electricity grid in the near future. The idea around BatteryLoop came about in 2017 with the aim of finding a business model for reusing used batteries – when an electric vehicle is at the end of its life cycle, the battery still has a large degree of its capacity left. Even if the battery can no longer power a car, it is often possible to use it in an energy storage system and thus extend its life by many years.
But BatteryLoop's solutions are not only about the energy storage system itself, which is a very technically advanced solution, but also about developing and offering software solutions that contribute to better energy efficiency and savings for customers. One example of this is the digital platform that BatteryLoop is developing together with HiQ, which enables the charging infrastructure to deliver more power. The digital platform enables operational monitoring of the energy storage system and makes structured data available for use in determining battery life. The data that HiQ and BatteryLoop gather can be used together with AI to estimate how long a battery has left to live, and thus its economic value in a circular business model.
By combining energy storage with a digital solution such as this one, a property owner can make both financial and environmental gains. For example, in an office building with charging points and an energy storage system, electricity supply costs can be reduced for the property, and the solution enables greater revenues from charging infrastructure and support services for the electricity grid. At the same time, climate-related emissions are also reduced through the increased electrification of vehicles and through the more efficient extraction of energy from the electric grid.
– We are just at the beginning of electrification in society. The charging infrastructure will need to be expanded and this will place tough demands on electricity grids. Having an energy storage system and smart digital solutions can be the key for companies that want a secure system for customers, employees, drivers and others who want to be able to charge safely and smoothly without interruptions or long waiting times. What we are now creating together with HiQ is an important piece of the puzzle in the development of electrification for our customers, says Rasmus Bergström, CEO of BatteryLoop.
Examples of economic and environmental benefits:
In an office property of 8,500 m2 with 55 charging stations and a 300 kWh energy storage system, the electricity supply costs for the property are reduced and the solution enables increased revenues from charging infrastructure and support services for the electricity grid. At the same time, climate-related emissions are reduced by about 40 tons of CO2 per year through the increased electrification of vehicles and the more efficient extraction of energy from the electricity grid.