Fova Energy Asset Profile

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Year established

2020

Location

Primary Industry

Energy Storage & Batteries

About

Established in 2020, Fova Energy is an MIT spin-off startup, it goal to build decision-making platform for the battery industry with data analytics using AI. Fova Energy focuses on predicting battery life cycle in a medium and long term. Company's core product is a management platform based on AI that is responsible for analyzing battery life cycle data. It can help dealing with health risks, improve safety, and enhance the working life of batteries. In R&D stage, battery factories strive to shorten the loop test time of battery cells and predict its working life. Fova Energy can help customers accelerating the testing process up to 80%, providing a more accurate battery classification strategy, screening out low-quality batteries before sale and improves consistency in product manufacturing, to reduce costs. In the after-sales stage, Fova Energy will predict the medium and long-term health status of cells according to the data of the battery in use. In daily operation, Fova Energy can prevent battery safety incidents months in advance. Fova Energy’s technological breakthrough in industrial scenes is the ability to predict batteries’ working life and health risks. In industrial scenes’ practical application, the information obtained is insufficient, and it has range of uncontrollable factors, Fova Energy’s AI-based management platform is able to extracts the hidden information to detect abnormalities by the requirements. Fova Energy’s commercial products are being tested internally, and are expected to be officially released in mid-2021. Furthermore, the company intends to carry out large-scale marketing in the second half of the year.

Current Investors

Shunwei Capital Partners, ZhenFund

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Primary Industry

Energy Storage & Batteries

Sub Industries

Consulting Services, Energy Storage & Batteries

Website

www.fovaenergy.com

Verticals

Artificial Intelligence, Big Data

Company Stage

Angel & Seed

Total Amount Raised

Subscriber access only

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