ReJoule Company Profile

Background

Overview

ReJoule, founded in 2017, is a California-based company specializing in battery diagnostics and optimization within the clean energy sector. The company focuses on providing solutions for battery remanufacturing optimization, end-of-line quality control, and qualification for second-life applications, utilizing non-invasive techniques to assess battery health. By enabling a more streamlined battery lifecycle, ReJoule aims to reduce battery waste and enhance the efficiency of electric vehicles (EVs) and battery energy storage systems.

Mission and Vision

ReJoule's mission is to maximize the value of every battery by delivering reliable, accurate, real-time health data. This approach seeks to address the challenges associated with sustainable battery waste management, particularly as batteries become increasingly integral to clean energy solutions.

Industry Significance

As the adoption of electric vehicles and renewable energy storage systems grows, the need for efficient battery diagnostics becomes critical. ReJoule's innovations in battery health assessment contribute to extending battery lifespans, reducing waste, and promoting a circular economy within the energy sector.

Key Strategic Focus

Core Objectives

Battery Diagnostics and Optimization: Developing advanced tools to accurately assess battery health, enabling informed decisions regarding battery usage, remanufacturing, and recycling.

Sustainable Energy Solutions: Facilitating the integration of second-life EV batteries into energy storage systems, thereby enhancing energy resilience and supporting renewable energy adoption.

Areas of Specialization

Battery Grading Technology: Creating non-invasive methods to evaluate the state of health of battery packs, modules, and cells, which is essential for repurposing and remanufacturing processes.

Second-Life Battery Applications: Implementing solutions that allow decommissioned EV batteries to be repurposed for stationary energy storage, contributing to sustainability efforts.

Key Technologies Utilized

Electrochemical Impedance Spectroscopy (EIS): Employing this non-invasive technique to assess battery health across various chemistries, form factors, and voltage levels.

Battery Management Systems (BMS): Integrating advanced BMS to monitor and manage battery performance, ensuring optimal operation and longevity.

Primary Markets Targeted

Automotive Industry: Collaborating with automakers to enhance battery performance and lifespan in electric vehicles.

Energy Storage Sector: Partnering with energy companies to incorporate second-life batteries into storage solutions, promoting renewable energy integration.

Financials and Funding

Total Funds Raised

ReJoule has secured a total of $21,841,384 in funding through various grants and investments.

Recent Funding Rounds

Convertible Note: $300,000 raised on February 29, 2024, from OpAmp Capital.

Grants:

$550,000 from the U.S. Department of Energy on September 11, 2023.

$10,000,000 from the U.S. Department of Energy on August 31, 2023.

$450,000 from the California Clean Energy Fund on February 9, 2021.

$1,000,000 from the National Science Foundation on September 13, 2020.

$2,900,000 from the California Energy Commission on July 8, 2020.

Notable Investors

OpAmp Capital: Participated in the convertible note funding round in 2024.

U.S. Department of Energy: Provided significant grants in 2023.

California Clean Energy Fund: Invested in 2021.

National Science Foundation: Supported in 2020.

Utilization of Capital

The funds have been allocated towards the development and deployment of ReJoule's battery diagnostics technologies, expansion of research and development efforts, and scaling operations to meet the growing demand for sustainable energy solutions.

Pipeline Development

Key Pipeline Candidates

Battery Grading Tool (PGT): A portable device that measures a battery pack’s state of health through an EV’s charge port, facilitating rapid assessment without removing the battery from the vehicle.

Second-Life Battery Storage Systems: Implementing energy storage solutions using repurposed EV batteries, integrated with solar photovoltaic systems to provide energy resilience for commercial buildings.

Stages of Development

Battery Grading Tool (PGT): Currently in the demonstration phase, with successful testing on Tesla Model 3 batteries.

Second-Life Battery Storage Systems: Pilot projects are underway, including installations at the American Museum of Ceramic Art in Pomona, California, with full operation expected by the summer of 2025.

Target Conditions

Battery Health Assessment: Accurately determining the state of health of EV batteries to inform remanufacturing and recycling decisions.

Energy Resilience: Providing reliable energy storage solutions using second-life batteries to enhance energy security for commercial establishments.

Anticipated Milestones

Battery Grading Tool (PGT): Completion of the demonstration phase and scaling for broader industry adoption.

Second-Life Battery Storage Systems: Full operational deployment of pilot projects and expansion to additional sites.

Technological Platform and Innovation

Proprietary Technologies

Battery Grading Tool (PGT): A device that assesses battery health via the vehicle's charge port, eliminating the need for battery removal and reducing diagnostic time.

Battery Management System (BMS): Advanced systems that monitor and manage battery performance, ensuring optimal operation and extending battery life.

Significant Scientific Methods

Electrochemical Impedance Spectroscopy (EIS): A non-invasive technique used to evaluate battery health across various chemistries, form factors, and voltage levels.

Accelerated Aging Testing: Laboratory-based testing to establish relationships between impedance data and battery degradation rates, informing second-life applications.

Leadership Team

Steven Chung: Co-Founder and CEO. Steven has a background in engineering and has been instrumental in developing ReJoule's strategic direction and technological innovations.

Zora Chung: Co-Founder and CFO. Zora brings expertise in finance and operations, overseeing the company's financial health and operational efficiency.

Competitor Profile

Market Insights and Dynamics

The battery diagnostics and optimization market is experiencing significant growth, driven by the increasing adoption of electric vehicles and the need for sustainable energy solutions. Key trends include the development of non-invasive diagnostic tools, integration of second-life batteries into energy storage systems, and advancements in battery management technologies.

Competitor Analysis

OneD Battery Sciences: Develops silicon anode technology platforms to enhance battery performance and lifespan.

Adden Energy: Focuses on developing advanced battery technologies for various applications.

Hubject: Provides e-mobility charging services, facilitating interoperability between different charging networks.

Strategic Collaborations and Partnerships

CleanSpark, Inc.: Collaborated on a $2.9 million grant from the California Energy Commission to validate the feasibility of repurposing EV batteries for storage paired with solar photovoltaic systems.

Ford Motor Company: Provided technical support and donated used EV battery modules for ReJoule's projects, supporting the development of second-life battery applications.

Operational Insights

ReJoule's focus on non-invasive battery diagnostics and second-life applications positions it uniquely in the market, offering solutions that extend battery lifespans and promote sustainability. The company's strategic collaborations with industry leaders enhance its capabilities and market reach.

Strategic Opportunities and Future Directions

Strategic Roadmap

Expansion of Battery Grading Technology: Scaling the deployment of PGT to various EV models and battery types, enhancing industry-wide adoption.

Deployment of Second-Life Battery Systems: Implementing additional pilot projects and expanding to commercial-scale installations, particularly in underserved communities.

Future Business Directions