After raising $65 million in a new funding round, energy storage technology company Our Next Energy (ONE), part of BMW i Venture’s investment portfolio of bleeding edge technology innovators, announced its intention to expand manufacturing operations in the U.S.
With the conclusion of the new funding round led by BMW i Ventures, ONE may now begin the site selection process for a factory in the U.S. dedicated to the manufacture of the company’s Aries LFP battery system.
With company goals of doubling the range and decreasing the cost of electric vehicle batteries, ONE will also use the new funding to accelerate R&D efforts into its high-energy density Gemini dual-chemistry battery. The research takes place in Michigan and the Bay Area. ONE in late December 2021 used a prototype Gemini battery to power a Tesla Model S on a 752-mile trip on a single battery charge.