Investors in ONE’s Series A round include BMW iVentures, Detroit-based Assembly Ventures and Chicago-based Volta Energy Technologies, which is partnered with Argonne National Laboratories. Another investor is Singapore-based electronics manufacturer Flex Ltd, which is also a strategic partner with ONE.
The round was led by Breakthrough Energy Ventures, the investment arm of Breakthrough Energy, founded by Gates in 2015 to support and fund innovations to counter climate change. Among the Kirkland, Washington company’s investments: Battery recycler Redwood Materials, electric aircraft maker ZeroAvia and solid-state battery developer QuantumScape.
ONE, a year-old startup that only recently emerged from stealth mode, is working on a dual battery that combines a structural cell-to-pack design that uses cobalt- and nickel-free cathodes, with a second, high-energy pack that can recharge the first, potentially doubling vehicle range to 750 miles.
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