Accure raises $16 million, secures 730 MWh of Texas contracts

Accure Battery Intelligence has secured $16 million in an oversubscribed Series B round, led by Incharge Capital Partners, a joint venture of Porsche SE and DTCP.

The financing round also saw participation from existing investors BlueBear Capital, HSBC Asset Management, Riverstone Holdings, Capnamic and 42CAP. The battery intelligence company said the funding will help fuel its growth across Europe, the Americas, the Asia Pacific, and other regions to meet growing demand.

Founded in 2020, Accure has developed a safety and performance platform that presently supports more than 6 GWh of EV and energy storage systems worldwide. Its ai-powered predictive analytics helps to stay ahead of battery failures – monitoring the systems, identifying potential issues, such as defective cells, imbalances, and state of charge problems, and recommending corrective actions to reduce the risk of safety incidents, such as thermal runaway.

Accure’s products help prevent thermal runaway events, reduce downtime by anticipating maintenance needs, accurately assess battery health and state of charge, and help operators maintain warranty coverage—making batteries more bankable and insurable.

“With growing load demand, batteries are essential to maintaining safe, reliable, and robust grids worldwide,” said ACCURE CEO and Co-founder Kai-Philipp Kairies. “Our top priority is ensuring the safety of these assets within the communities they serve.”

The company’s expansion in the U.S. has been particularly rapid. On the same day, Accure announced one of its biggest deals to date under which it has deployed its AI predictive analytics platform at four Texas energy storage projects.

With a cumulative storage capacity of 730 MWh, the projects are part of a BESS-focused investment strategy at UBS Asset Management. The investment manager acquired the assets in 2022.

“Increasing the safety and performance of battery energy storage systems (BESS) is a priority for us. ACCURE’s predictive analytics platform not only streamlined our commissioning process but also improved safety and performance, ensuring we’re ready to meet the energy demands of the Texas grid,” said Mark Saunders, co-head of energy storage at UBS Asset Management.