Clean Energy Trust announced investments in two early-stage cleantech startups: Renewance Inc., a software platform and services (software-as-a-service, SaaS) for battery lifecycle management and stewardship, and Iris Light Technologies, Inc., a developer of silicon photonics technology.
Renewance provides lifecycle management solutions to the battery energy storage and electric vehicle industries. Services include enabling clients with defect or end-of life batteries to compare, select and contract with battery recyclers on the Renewance Connect platform; turnkey recycling solutions; and several other software solutions and services to ease management of battery energy storage assets throughout the full life cycle.
Registered users of Renewance Connect can trigger a request for quote when they have DDR (damaged, defective, recalled) or end-of-life batteries and receive multiple quotes from registered, reputable waste logistics providers and recyclers, so they can compare and be assured to select and contract the most cost competitive waste logistics provider and recycler.
Renewance is a member of NaatBatt International, a not-for-profit trade association of companies, associations and research institutions commercializing advanced electrochemical energy storage technology for emerging, high tech applications.
The investment in Renewance was made from the Illinois Clean Energy Innovation Fund. As part of the support Clean Energy Trust offers their portfolio, they will also provide both companies with access to resources and programs that have helped current portfolio companies raise more than $140 million of follow-on funding. Since 2014, Clean Energy Trust has invested in 33 companies in states located across the Mid-Continental region of the United States.