Well known brand names are among the five investors backing Newcastle's Connected Energy in a £15m funding round.
Caterpillar Venture Capital Inc., the Hinduja Group, Mercuria, OurCrowd and Volvo Energy have joined existing investors Engie New Ventures, Macquarie, and the Low Carbon Innovation Fund to give the backing which the firm says will enable it to scale up operations and move into utility scale developments.
The move now means Connected - which uses old car batteries to build commercial storage systems - has investors spanning battery supply to project deployment.
