GS Group's US venture investment firm GS Futures has invested in Australian start-ups with electric vehicle battery reuse technology.
According to related industries on the 5th, GS Futures invested in Australian battery solution maker Relectrify, which was led by U.S. energy-specialized venture investment firm EIC at the end of August.
The total investment is between 6 billion won and 7 billion won, and dozens of companies including GS Futures and Japan's venture capital EEI have participated.
They are said to have invested highly in the energy storage device (ESS) reuse technology of Relectrify.
Relectrify said in January last year that it has developed a battery management system (BMS) and inverter technology that can extend life by more than 30% when reusing waste batteries and reduce costs at the same time.
With this investment attraction, Relectrify plans to establish partnerships with ESS manufacturers in the US, Australia and Asia and target the waste battery reuse market.
Earlier, GS Group established GS Futures, a venture investment company in Silicon Valley, USA, in July last year to find promising startups in eco-friendly, energy, and digital.
Reporter Lee Ji-sun stockmk2020@gmail.com
