Currents Launches Marketplace to Support OEMs and Maximize Second-Life Battery Repurposing
PORTLAND, OR / December 12, 2023 – Currents has officially launched their marketplace with battery inventory eligible for a second-life (2L). One of the first users of the platform is Nissan North America who will provide battery inventory with transparent pricing and state-of-health information.
Currents, a business-to-business marketplace designed for stakeholders throughout the end-of-life (EoL) EV battery supply chain, is a facilitation platform that provides buyers with transparency into inventory, pricing, and state-of-health (SOH) while extending the lives of retired EV batteries, paving the way for a sustainable, renewable future powered by 2L batteries. The platform drives value for buyers by solving pain points around sourcing, while enabling suppliers to scale their operations to the largest available demand pool, fulfilling a real gap in the industry.
This closed-loop model extends the life of valuable battery assets and reduces greenhouse gas emissions created by virgin material production. Currents provides the channel and solution for the EoL lithium supply chain challenged from the growing demand for EV batteries. Maximizing the effective life of every battery is of the utmost importance to strengthen our energy independence, unlock the value of renewables, and bolster domestic supply chains.
“We're thrilled to go to market with Nissan’s inventory and provide approved buyers with the best available second-life inventory at the fairest, most transparent pricing based on state-of-health,” said Anthony Garbarino, CEO of Currents. “Together with Nissan, we can maximize battery lifecycle value and provide second-life buyers with a single, trustworthy destination to solve their demand needs. Our goal is for integrators to spend less time sourcing and more time scaling.”
“Currents is at the forefront of tackling the demand for sustainable energy solutions and supply chain circularity with their platform,” said Nick Arnold, Principal at HG Ventures. “All OEMs are grappling with the need for end-of-life strategies for EV batteries, which is why we invested in Currents, and it is exciting that Nissan is leading the way in this field.”
Along with Nissan, OEMs, and other industry participants, Currents is developing a first-of-its-kind 2L battery e-commerce platform that will enhance visibility of available EV batteries across North America for stakeholders throughout the EoL supply chain.
Currents
Currents is a B2B facilitation marketplace designed for retired electric vehicle batteries tailor-made for auto OEMs, second-life (2L) integrators, auto recyclers and dismantlers, and lithium recyclers with a mission of enabling the closed loop economic model for all stakeholders. Currents’ platform facilitates and optimizes the end-of-life EV battery lithium supply chain by ensuring every battery is handled responsibly while maximizing their lifecycle value.
Contact: info@currents.market