What is ONE?
ONE is a pioneering energy storage company dedicated to the development of advanced battery technologies designed to overcome the current limitations of electric vehicle range and energy density. By focusing on high-performance, sustainable battery architectures, the company aims to bridge the gap between current energy storage capabilities and the requirements of a decarbonized global economy. Its market position is defined by a commitment to engineering excellence and a strategic focus on the automotive and industrial sectors, where the demand for reliable, high-capacity energy storage is accelerating rapidly.
The company operates at the intersection of material science and industrial manufacturing, leveraging its Michigan-based facilities to drive innovation in battery chemistry and pack design. By prioritizing scalability and cost-efficiency, ONE is positioning itself as a critical supplier for OEMs seeking to transition their fleets to electric power, thereby playing a pivotal role in the global energy transition.
How much funding has ONE raised?
ONE has raised a total of $390M across 2 funding rounds:
Series A
$90M
Series B
$300M
Series A (2022): $90M with participation from Flex, Volta Energy Technologies, Breakthrough Energy Ventures, BMW i Ventures, Assembly Ventures, and Coatue
Series B (2023): $300M led by Fifth Wall and Franklin Templeton
Key Investors in ONE
Fifth Wall
Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry, connecting major property owners with innovative entrepreneurs.
Franklin Templeton
Franklin Templeton is a global investment management organization providing specialized expertise across multiple asset classes, including venture capital and sustainable investing.
Breakthrough Energy Ventures
Breakthrough Energy Ventures invests in cutting-edge companies that aim to lead the world to net-zero emissions through transformative clean energy innovations.
What's next for ONE?
Looking ahead, the strategic deployment of the $300M investment will likely focus on scaling manufacturing capacity and refining the company's next-generation battery platforms. As the firm transitions into a high-growth phase, the focus will shift toward optimizing supply chain resilience and deepening partnerships with major automotive manufacturers. The involvement of sophisticated investors suggests a long-term commitment to achieving commercial viability at scale, with a clear emphasis on meeting the rigorous performance standards required for mass-market electric vehicle adoption.
Furthermore, the company is expected to leverage its existing network of strategic partners to explore new applications for its energy storage technology, potentially expanding into stationary storage solutions for grid management. By maintaining a disciplined approach to capital allocation and technological development, ONE is poised to remain a significant player in the evolving landscape of clean energy infrastructure.
