Our Next Energy (ONE) energy storage technology company focused on engineering batteries that will accelerate electrification.
Our Next Energy's vision is to double the range of electric vehicles; use safer, more sustainable raw materials; and establish a localized supply chain.
Our Next Energy (ONE) was founded in 2020 by Mujeeb Ijaz. The company is headquartered in Novi, Michigan.
ONE has future-proofed its supply chain against disruption by basing the LFP chemistry in Aries™ I and Aries™ II on easily-obtained, locally-sourced and affordable iron. The dual-chemistry in Gemini™ relies on both iron and plentiful manganese.
ONE is also launching Aries Grid, an energy storage system it will assemble using lithium iron phosphate battery cells manufactured at its battery factory in Van Buren Township, which is preparing to launch production. Aries Grid will be available in 2, 3 and 6-megawatt-hour units.
ONE has signed ten customer agreements for its products, totaling 36 GWh over the next five years, and is further preparing for phase two factory investments ahead of plan.
ONE is backed by Temasek, Fifth Wall, Franklin Templeton, BMW i Ventures, Breakthrough Energy Ventures, Riverstone Holdings, Coatue, AI Capital Partners, Sente Ventures, Assembly Ventures, and others. The company raised $300M in a Series B round on Feb 01, 2023. This brings ONE's total funding to $390M to date. The latest round valued the company at a $1.2B post-money.