The round was co-led by Schneider Electric Ventures (SEV) and Energy Innovation Capital (EIC) with participation from the Massachusetts Clean Energy Center (MassCEC). As part of the funding round, Jean-Luc Meyer, Senior VP of Business Development, Innovation at the Edge at Schneider Electric, and Ben Stanzl, Managing Director at Energy Innovation Capital, will join Titan AES’s board of directors.
The company will use the funds to:
- accelerate product development,
- launch solutions that enable second-life batteries to be repurposed,
- recruit engineering talent and
- expand sales activities in the automotive and consumer electronics markets.
Founded by Shawn Murphy and Sean O’Day, Titan Advanced Energy Solutions develops advanced battery management systems that measure and monitor the State of Health (SoH) and State of Charge (SoC) of Li-ion batteries with speed and precision. The company’s patented ultrasound technology uses molecular-level, in-situ measurements to detect the SoH and SoC to enable increased usable capacity, longer cycle life and critical safety improvements through early detection of battery outgassing and other critical failure modes.
Murphy previously founded Shell TechWorks, Shell Oil and Gas’ advanced engineering and innovation center, and before that was Head of Science and Technology for Space Systems at Draper Laboratory. Prior to Titan, O’Day was a partner and investor in Sonnedix, a utility scale solar IPP, where he led the Future Solutions Group that was focused on utility scale energy storage solutions to enable intermittent renewable energy projects at utility scale.
FinSMEs
30/09/2019