£1.2 million secured by Dukosi to accelerate smart battery technology

Battery management technology specialist, Dukosi, has secured an additional £1.2m of series A investment to accelerate the development and commercialisation of their smart battery technology for high efficiency automotive, renewable, grid and local energy storage. The latest investment round for Edinburgh based Dukosi follows £1m 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 cars 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 predicted to have a positive impact on the Lithium Ion (Li-ion) battery cell market that is forecasted by Frost & Sullivan to reach $75b by 2020 with an annual growth rate of around 57% . The addressable market for battery management technology tracks this market and is predicted to reach $6b by 2020. CEO, Dr Gordon Povey said: “We are seeing significant growth in the lithium-ion battery markets worldwide largely driven by the increasing sale...