Seed11 July 2023

Allye raises £900k from Elbow Beach Capital and Alpha Future Funds to manufacture its mobile energy storage systems.

Elbow Beach Capital led the round to support the production of the company's flagship mobile energy storage technology.

£900KSeed

Allye develops distributed energy storage systems that utilise repurposed electric vehicle batteries to lower energy costs and accelerate grid decarbonisation. The company creates modular hardware solutions designed to bridge the gap between stationary and mobile power applications.

Battery technology enterprise Allye has secured £900k in new funding to support the manufacture of its debut mobile energy storage system. Elbow Beach Capital led the round, with additional backing from Alpha Future Funds. The capital injection arrives shortly after the company emerged from stealth mode.

The newly acquired funds will be directed towards scaling production of the Max, a 300kWh mobile energy storage unit engineered to replace diesel generators and offer a flexible alternative to traditional stationary grid storage. Initial systems are slated for industrial deployment in the third quarter of 2023. The investment reinforces the backers' commitment to sustainable energy infrastructure and grid flexibility.

From the founder

"Elbow Beach Capital and Alpha Future Funds share a commitment beyond the financial. They believe smart energy storage can accelerate the decarbonisation of the electricity grid and help businesses and households access cleaner, cheaper energy. This investment will provide us with the platform for future success."

Jonathan Carrier

CEO at Allye

Investor perspective

"Allye’s innovative technology and the exceptional team behind the company align perfectly with our investment thesis. We are excited to support Allye on their journey as they tackle multiple pain points simultaneously and unlock the vast potential of energy storage solutions."

Nick Charman

Chairman, Elbow Beach Capital