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Autocraft Options Group has secured £24 million via a financing package deal to assist assist the corporate’s ambitions to develop its electrical automobile battery restore options internationally.
The corporate’s EV Options division works with unique gear producers (OEMs) to offer its Revive EV battery testing, restore and remanufacturing providers.
Autocraft’s resolution is ready to establish and change underperforming cells inside an EV’s battery to assist restore any EV battery failures, fairly than triggering a untimely recycle.
The enterprise launched its first battery restore centre in Arnhem, Netherlands in 2023 and it’s now planning to open new centres throughout Scandinavia, Southern Europe and North America.
Every Revive facility will triage, restore and remanufacture EV battery packs, processing 1,400 EV batteries every year.
Autocraft stated that by holding current batteries operational, every facility will save round 1,500 tonnes of CO2, six megawatt-hours of electrical energy, and two million litres of water per 12 months, because of eliminating the necessity for OEMs to provide substitute battery packs.
Mike Hague-Morgan, govt director at Autocraft Options Group, stated: “The variety of EVs continues to rise, bringing with it elevated demand for our world-class remanufacturing capabilities.
“We’re on a mission to unlock the total environmental and efficiency potential of EVs and, with the monetary backing of HSBC, we are actually one step nearer to creating this a actuality.
“Importantly, the financial institution additionally shares our ardour for inexperienced tech, making it the best associate to assist our subsequent section of development.”
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