CLARE — A mid-Michigan energy storage manufacturer is raising $50 million in capital to scale up production of its lead-acid battery technology, which executives say will be crucial to accompany growing amounts of renewable energy generation on the grid.
Founder and CEO Edward Shaffer formed Clare-based Advanced Battery Concepts LLC in his garage in 2009. After scaling up from incubator space in Midland to a production facility in Clare, Shaffer is preparing for the company’s next phase of commercialization and larger scale production.
Shaffer envisions ABC’s EverGreenSeal lead-acid battery technology, which is housed inside its BOX-BE bay, as a competitor for the likes of Tesla’s Megapack, which offers long-duration, stationary energy storage options in commercial, industrial and utility-scale settings.
Shaffer says lead-acid batteries, a mature technology with lower…
Mid-Michigan energy storage company raising $50M to boost production as renewables come online
