India-based ADVIK has announced the acquisition of UK battery repurposing tech company Aceleron Energy, which went into administration in September 2023.
ADVIK stated that the acquisition will see the organisation offer the UK market the “world’s first” serviceable and repurposable lithium-ion batteries. It will also bolster the company’s presence within the UK e-mobility and energy storage markets.
The acquisition will bring patented technology and adds testing and prototyping facilities in the UK, complementing ADVIK’s existing network across 10 plants.
The company will be managed by ADVIK’s UK subsidiary, Advik Technologies.
Aditya Bhartia, managing director of ADVIK, expressed excitement about the acquisition, emphasising its contribution to a sustainable future powered by clean energy.
Aceleron returns to market following administration
In September 2023, it was revealed that Aceleron Energy fell into administration after struggling to secure further investment. The company from Bromsgrove did manage to secure some funding, but not enough to keep the firm afloat.
As previously reported, Aceleron developed a circular economy approach to battery technology, hoping to negate the challenge of lithium-ion battery waste. Given the nature of such technologies, which are rarely reused or recycled, the electric vehicle (EV) industry is expected to create more than 11 million tonnes of battery waste a year globally in the next 20 years.
Aceleron was co-founded in 2016 by Carlton Cummins and Dr Amrit Chandan.
