In a significant stride towards enhancing battery technology for electric vehicles (EVs), US battery start-up Our Next Energy (ONE) has unveiled the second generation of its Aries battery pack, aptly named Aries II. Supported by notable backers including BMW, ONE’s Aries II boasts Lithium Iron Phosphate (LFP) chemistry and is designed to push the boundaries of energy density in battery packs.
The Aries II battery pack has made remarkable progress, achieving an energy density of 263 Wh/L and 162 Wh/kg at the system level. This marks an impressive improvement of 34% and 23% respectively compared to its predecessor, representing a leap towards heightened efficiency. Aries II’s energy density is a mere six percent lower than the benchmark set by Nickel Cobalt Manganese (NCM) battery packs.
According to ONE’s claims, the Aries II battery pack can endure 3,000 charging cycles, offering longevity that surpasses comparable NCM batteries. Notably, Aries II also manages to cut costs by a notable 25% when compared to its NCM counterparts.
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With a capacity of over 100 kWh, Aries II has set its sights beyond the 100 kWh threshold, opening doors for electric vehicles to potentially achieve remarkable ranges. By integrating Aries II’s advanced technology, the range of a typical electric car could be expanded to exceed 350 miles, or approximately 563 kilometers.
ONE’s CEO and founder, Mujeeb Ijaz, underlines the strategic significance of LFP batteries. He emphasizes their economic feasibility, durability, and utilization of safer and more abundant materials compared to NCM batteries. The breakthrough with Aries II addresses the historical limitations of LFP batteries in terms of range and energy density, making them a more sustainable alternative.
The Aries II battery packs are slated for production in late 2024 at ONE’s manufacturing facility in Michigan, USA. Furthermore, ONE anticipates that Aries II will fulfill the criteria outlined in the Inflation Reduction Act in the United States, a crucial step towards securing associated funding for the company’s endeavors.
Since its inception in July 2020, ONE has been steadfastly working to bridge the energy density gap with NCM batteries. Aries II represents a commendable achievement, boasting a 20-30% increase in energy density compared to conventional LFP battery systems. This stride is attributed to Aries II’s innovative pack and cell design, with specific advancements made in reducing the pack’s overall weight.
To support the intensive development and production phases, ONE secured a substantial Series B financing round of $300 million earlier this year. In a prior Series A round in 2021, renowned automaker BMW, through its investment branch BMW i Ventures, was among the investors backing ONE. The company also gained a significant boost with an additional $220 million in grants from the state of Michigan, earmarked for the construction of the LFP battery cell factory.
ONE, headquartered in Michigan, is a pioneering start-up focused on dual battery technology hinged on two proprietary innovations. The first, known as Aries, harnesses LFP chemistry in a cell-to-pack framework to achieve remarkable system-level energy density. The second innovation, dubbed Gemini, introduces a high-energy battery pack that collaborates with the first battery, enhancing range by charging it. This advancement paves the way for future EVs to potentially achieve ranges of up to 750 miles, or around 1,200 kilometers.
