Energy Storage Solutions innovator Albion Technologies is delighted to announce a strategic investment of £400,000 by Bristol and Bath Regional Capital (BBRC), as part of their place-based impact investment fund, City Funds. The investment is part of a £1.1m round which is still open to other investors interested in backing energy storage start-ups aligned to the need to decarbonize the energy infrastructure.
With this investment, City Funds will help establish a domestic manufacturing and assembly facility within Bristol providing new green economy employment to the community, creating up to 90 green jobs across a range of warehouse, assembly, design and R&D skills,. Albion Technologies develops energy storage systems that improve the economics of attachment of surplus energy from renewable power generation facilities, such as solar or wind farms onto the nationwide power grids.
Solar and Wind is replacing more polluting, modes of power generation as the best immediate solution for meeting the UK’s COP26 commitments. Albion will integrate batteries with advances in control that improves energy delivery of these sustainable technologies, delivering an energy storage solution aligned to the current and future needs of the energy sector. In addition, Albion’s battery cells have been designed around recyclability, using no rare earth metals or toxic materials. The technology maximises safety while simultaneously increasing the lifetime by many thousands of charge cycles.
Sir Robert Bucher, CEO of Albion says: “Smart BESS is a key product to support the goals of a transitional clean environment allowing accelerated the elimination of combustion-based power generation via the attachment of solar and wind power. Energy storage is recognized globally as a necessity for a stable power infrastructure and we’re pleased to work with BBRC to bring this idea to Bristol.”
One of the first funds of its kind in the UK, City Funds brings together investment, grant and local authority support in a coordinated place-based approach to tackling inequality. With different types of funding under one roof, City Funds will strengthen Bristol-based initiatives that are working to solve some of the biggest social and environmental problems the city faces. The investment into Albion via fund advisor BBRC will contribute to Bristol net zero ambitions by setting up a new local business for the manufacture of more efficient, less wasteful energy storage products for sale to UK offtakers.
Jari Moate, Investment Manager at BBRC, says: “Albion’s battery technology is a game-changer for the UK’s energy infrastructure this is an opportunity to establish a new green industry in Bristol which has potential to dramatically scale. BBRC is pleased to invest via City Funds in this world class engineering and commercial proposition with a committed ambition for social and environmental impact in our region.”
About Bristol and Bath Regional Capital
Bristol & Bath Regional Capital is the region’s only investment company to focus exclusively on enabling regional change by democratising financial purpose and profit. BBRC ensures that impact-driven organisations have access to the financial support they need to succeed and thereby create long-term economic, social and environmental prosperity for the region and beyond. Established in 2015, BBRC has raised over £36 million in new social investment for the region.
About Albion Technologies Ltd.
Albion Technologies Ltd, a privately-owned company registered in England & Wales, that has redefined battery storage using an evolutionary approach to enable the assembly of smart systems that are competitively priced, fully recyclable, with a substantially longer life cycle and safe from fire and heat. This transformative Smart Energy Storage System provides a step change to the solution for electrification as we transition to a carbon zero world.
Albion is a domestic business founded in 2019 and headquartered in Bristol, UK.
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