Titan Advanced Energy Solutions Raises $33 Million Series B Led by HG Ventures to Transform Battery Diagnostics and Management

Titan Advanced Energy Solutions (“Titan”), a pioneer in ultrasound-based battery management solutions, announced a $33 million Series B financing led by HG Ventures, the corporate investment arm of The Heritage Group. This new capital positions the company to accelerate industrial-scale deployments of its battery diagnostics and battery sensing/management technologies to drive safer and more efficient manufacturing, operation and repurposing of lithium-ion batteries.

Additional investors from the U.S., EuropeAsia and the Middle East included H+ Partners, GS Futures, the investment arm of the GS Group, GS Energy, Doral Energy-Tech Ventures, the investment arm of Doral Group and Fortistar, along with existing investors Energy Innovation Capital and SE Ventures, the investment arm of Schneider Electric.

Our ultrasound-based technology spans the battery life cycle. From manufacturing and first use to second life and recycling“, said Shawn Murphy, CEO and co-founder of Titan. “We will continue to propel the shift toward electrification by solving critical issues impacting the performance and safety of new and reused lithium-ion batteries.

Titan’s primary focus is on the automotive and stationary storage markets. The global EV batteries market is expected to grow from $19.78 billion in 2020 to $38.32 billion in 2025, and the global battery energy storage system market is projected to grow from $2.9 billion in 2020 to $12.1 billion by 2025.1,2

Titan’s focus on building a sustainable model of closed loop recycling for lithium-ion batteries aligns perfectly with HG Ventures’ mission of supporting cutting-edge disruptors in sustainability.” – said Ginger Rothrock, Senior Director of HG Ventures – “We and our strategic syndicate partners are delighted to support Titan’s world-class team developing a platform that enables transformational improvements to the performance, economics and safety of lithium-ion batteries.

Today Titan’s solutions are being co-developed along with global auto manufacturers, multinational energy storage integrators and consumer electronics manufacturers in the United States and Europe.


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