London-based energytech Allye Energy has raised $2.5 million in a seed funding round to accelerate the deployment of its smart battery systems.
The funding round was anchored by Elbow Beach, alongside Alpha Future Funds.
Benedikt Sobotka, General Partner at Alpha Future Funds, said: “Allye's innovative approach to repurposing EV batteries - including those prematurely retired from accidents or early replacements - represents a circular economy breakthrough."
The round combines equity and debt financing and will support scaling up manufacturing and delivery of its technology for both grid-connected and off-grid use cases.
The company plans to expand into Europe within the next 12 to 18 months, having already established sales in the UK and Ireland.
Allye’s technology combines repurposed electric vehicle (EV) batteries with advanced control systems to provide flexible energy storage. Its systems are used in sectors ranging from construction and transport to energy utilities and media production. Customers including Horizon Plant and OnBio have ordered additional units following successful trials, while Roadchef has renewed its subscription contract.
The new funding will enable the further commercialisation of Allye’s MAX range of battery energy storage systems, including the MegaMAX models with capacities of 1 MWh and 1.5 MWh. It will also support the expansion of Allye’s engineering team to develop new power control innovations and battery technologies.
Jonathan Carrier, Founder and CEO of Allye Energy, said: “This funding represents validation of our vision to eliminate energy constraints through intelligent battery storage.
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