CHICAGO, IL / ACCESSWIRE / June 25, 2024 / Renewance, Inc., a leading provider of industrial battery services, asset management software solutions for more effective, compliant and responsible battery energy storage and EV battery deployments, operations and end-of-life management, announces that it has reached several milestones in assisting businesses in commissioning and servicing over 20 GWh, decommissioning over 100 MWh and managing recycling of more than 3,000 tons of batteries.
Lithium-ion batteries power the modern economy. Driven by the shift from ICE powered to battery-powered vehicles and the shift from fossil-based power generation to renewable power generation, demand for lithium-ion batteries is expected to grow by more than 30% annually and reach a market size of 4.7 TWh and $400 billion by 2030, according to a 2022 analysis study by McKinsey & Company. That demand is growing even faster than expected: Just three years earlier, in a joint report by McKinsey, the Global Battery Alliance and Systemiq, the projected demand was only 2.6 TWh by 2030.
Renewance assists the energy storage system and electric vehicle sectors in the safe and sustainable deployment, operations and end-of-life liabilities of battery-based applications or products via a suite of product stewardship software solutions and expert services. Through its team of certified battery field services technicians and life cycle management platform, Renewance ensures efficient battery deployments, smooth operations from optimized battery performance, regulatory compliance, and manages responsible recycling or repurposing.
Safely disposing of lithium-ion batteries at the end of their lifecycle poses immense challenges. There are now hundreds of millions of advanced industrial batteries already deployed, and improper disposal of those batteries can cause long-term harm to the environment: cobalt, nickel, manganese, and lithium-fluoride salts can leak from battery casings and contaminate soil and groundwater. Lithium-ion batteries also pose a fire risk if improperly handled. Those hazards, coupled with the booming demand, point to the need for stewardship solutions for battery system manufacturers and operators.
"We provide clients a one-stop-shop solution for decommissioning, collecting, re-using or recycling services from trusted partners, in the most cost competitive, eco-friendly and compliant manner," said Sander Jacobs, CCO at Renewance. "Our goal is to save you significant time and resources that can be better devoted to your core business activities."
Renewance understands businesses' needs. The company was founded in 2015 by a team of veterans in battery energy storage, who had identified a lack of end-to-end logistics and recycling services for industrial batteries and a need for expert guidance in the complex regulations of industrial battery management.
In Renewance, they combined comprehensive knowledge of product compliance, environmental and transportation regulations with an extensive network of logistics professionals, engineers, and certified recycling partners. Renewance has been recognized for its expertise, winning Phase 3 of the U.S. Department of Energy's Lithium-Ion Battery Recycling Prize, and is approved by the U.S. Environmental Protection Agency as an importer and exporter of hazardous waste.
Renewance now delivers cost-effective, eco-friendly and compliant stewardship solutions for industrial batteries, from commissioning through end of life, for some of the world's largest and best-known brands. To date, the company has aided clients in commissioning and servicing over 20 GWh, decommissioning over 100 MWh, and managing recycling of more than 3,000 tons of batteries.
The company's Renewance Connect digital platform, a purpose-built SaaS solution, enables clients to manage their battery assets more effectively and responsibly throughout their operating life. Key features include:
- Asset Management - Provides life cycle status, operational status and performance analytics data in comprehensive dashboards, accessible in a single app. Real-time monitoring functionality can be configured with alerts triggered by operating conditions.
- Warranty Management - Automates complex processes of battery warranty data submission, analysis, disposition and fulfillment, all of which can be extremely complex. Enables quicker and better claim resolution through claim digitization, warranty flow automation, and streamlining analysis, disposition and fulfillment.
- Operations & Maintenance - Scheduled and corrective maintenance activities planning, work order management and record keeping.
- Regulatory Compliance - Provides automated alerts that notify you of applicable regulatory requirements, avoiding civil and criminal penalties and significant reputational risk. It also acts as a repository for all relevant records so you remain fully compliant.
- End-of-Life Management - Creates a one-stop-shop solution for cost-competitive, eco-friendly and compliant decommissioning, collection, and reuse or recycling services from trusted service providers. The marketplace feature enables clients to compare, select and contract with turnkey recycling solutions (project-managed by Renewance and executed by in-house certified field services resources or certified partners) or buy/sell used batteries.
With a keen understanding of the battery industry and its regulatory environment, Renewance is committed to enabling the battery energy storage system and electric vehicle sectors with safe, sustainable, comprehensive and effective battery life cycle management with innovative solutions.
For more information, please visit https://batterystewardship.com.
About Renewance, Inc.
Renewance, Inc. is a Chicago-based leading provider of battery life cycle services for the Energy Storage (ES) and Electric Vehicle (EV) industries. Renewance provides software solutions, technical field services, warehousing and logistics, and project management services that enable clients to manage their assets more effectively and responsibly throughout their operating life, ensuring the optimal performance and longevity of batteries, as well as safe recycling or repurposing of spent batteries in an economically viable, regulatory compliant and environmentally responsible manner.
Contact Information
Thomas Newhall
COO
thomas.newhall@renewance.net
(518) 930-8895
SOURCE: Renewance, Inc.
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