Australia Cefc Backs Tender

The CEFC congratulates Relectrify on the launch of its BMSInverter storage technology today. The ground-breaking technology significantly increases storage and reduces the cost of new batteries as well as giving second life to old batteries.The CEFC has increased its stake in Relectrify investing a further 2.5 million through the Innovation Fund to lead the companys Series A equity raising.The Relectrify Battery Management System BMS Inverter technology could increase battery storage time by as much as a third and reduce costs by up to half compared to existing market-leading battery offerings.It uses cell-level battery management systems BMS to provide a very high-efficiency AC output without requiring a costly inverter.Relectrifys BMSInverter is already in operation including in a grid storage pilot with Nissan North America and American Electric Power AEP a leading US power company with more than 5 million customers.Executive Director Innovation Fund Ben Gust said that the CEFC was delighted to see a positive response from the market to Relectrifys technology.Relectrifys BMS has broad application because it can extend the performance of a wide range of battery types across industrial residential and grid storage and in new or used batteries Mr Gust said.It offers battery and inverter makers additional lifetime and performance from cells and the potential to reduce the cost of the components needed to build battery systems.