July 1, 2024, BSL New Energy Technology Co., Ltd.(hereinafter referred to as BSLBATT ), the world`s leading lithium battery manufacturer providing high-quality LiFePO4 batteries for motive power and energy storage applications, completes $21 million in Series A financing for expanding its cloud-based battery energy management platform and increasing distribution and sales.

Speech by CTO — Peng Lin

“This financing will be used to innovate our lithium battery technology and to prepare for the UL2580 certification of our lithium batteries, which not only ensures worker safety, but also provides a quick return on investment for cost-sensitive warehouse operators. For this reason, BSLBATT® engineers have developed advanced material handling batteries and chargers that solve the problems associated with traditional lead-acid batteries, including short battery life, additional maintenance, and some of the riskier replacement and maintenance activities associated with inefficient energy transfer, to improve worker safety.”

Speech by CTO — Eric Yi

“The fact that we were able to complete this financing with the help of our existing investors and new financing partners is proof that we are on the right path doing the right things. So we have to invest more energy to research and development of more advanced lithium battery technology and obtain more lithium battery UL2580 certification, to improve the quality of service of our lithium battery products to increase the number of existing clients, to change the rules of the game of the power battery and energy storage batteries.”

Speech by CTO — Haley Ning

“Lead-acid battery companies used to rule the battery market, they can only take over some small companies to expand their own scale or develop their own platform, lack of innovation to follow the market trend. But BSL has caught the opportunity of the development of the battery market, and has been dedicated to the production and R&D of lithium batteries from the beginning, and has been on the path of innovation of lithium battery products. This is the reason why we further developed our artificial intelligence-based battery energy management cloud platform.”

Future Plans

The current R&D projects in progress have not yet been announced. In the following 12 to 18 months, BSLBATT plans to spend money on staff recruitment, more than doubling the number of engineering, automation, software, production and sales positions. So far, the company employs 288 people.

BSLBATT will expand into other applications of lithium-ion batteries to diversify into lithium batteries, such as mini excavators, AGVs, and lithium batteries for mining. Currently the largest demand is in the material handling field in Europe and North America. With the increasingly stringent global requirements for lithium traceability, BSLBATT also plans to incorporate lithium traceability from raw ore to battery cells into its software platform. This standard has already been adopted in Europe.

Find out more on the BSLBATT website!