Renewance Inc. is a specialized provider of industrial battery life cycle management solutions, established in 2016 by veterans in the battery energy storage sector. Based in Chicago, Illinois, the company develops software solutions and offers consulting services to optimize battery operations from deployment through end-of-life phases. Renewance’s primary mission centers on enabling safe and sustainable battery-based applications, particularly in energy storage and electric vehicle sectors. Through their expertise in battery management and recycling processes, they help businesses implement environmentally responsible practices while maintaining economic viability.
Battery Technology
The cornerstone of Renewance’s technological offerings is their Renewance ConnectTM platform, a purpose-built SaaS solution designed for comprehensive industrial battery management. This digital platform integrates essential functions, including asset tracking, warranty administration, maintenance scheduling, and regulatory compliance monitoring. The system provides real-time analytics and predictive maintenance capabilities through its Remote Monitoring Center (RMC).
The company’s technical solutions extend to field services, encompassing deployment support, warehousing, and logistics management. Their battery management approach incorporates advanced monitoring systems that track performance metrics and environmental conditions, ensuring optimal battery operation throughout its service life. Renewance has developed specialized protocols for handling various battery chemistries, particularly on lithium-ion batteries used in energy storage systems and electric vehicles.
Renewance employs sophisticated assessment tools for end-of-life management to determine whether batteries are suitable for recycling or repurposing. Their network of certified recycling partners ensures materials recovery adheres to environmental standards while maximizing resource reclamation.
Recent Projects
In early 2024, Renewance launched its state-of-the-art Remote Monitoring Center at its Elmhurst headquarters, enhancing its capability to provide real-time battery performance optimization and system failure prevention. The company has achieved significant operational milestones, managing over 20 GWh of battery commissioning and servicing while successfully overseeing the recycling of more than 3,000 tons of batteries. Their presence at the Battery Asset Management Summit USA 2024 showcased their advancing role in setting industry standards for safety and sustainability.
Investors
Renewance has secured significant financial backing from prominent investment firms. Recent funding includes a growth equity investment from RockCreek’s Smart Futures team in 2024, alongside support from IMM Investment, an Asia-based private equity firm. Evergreen Climate Innovations (formerly Clean Energy Trust) maintains its position as an early investor, providing ongoing resources and strategic support for the company’s expansion efforts.
Business Details
Location: Elmhurst, Illinois, USA
Website: https://renewance.net
LinkedIn: https://www.linkedin.com/company/renewance/
