California-Based B2U Storage Secures Investment for Repurposed EV Battery Energy Storage

California-based B2U Storage Solutions has launched its first structured finance fund to attract additional investment in its portfolio of seven projects utilizing repurposed electric vehicle batteries for stationary energy storage.

The company now has four operational projects, including three in California and one in Texas. B2U utilizes second-life EV batteries, which still contain a significant portion of their charging capacity after many miles and can offer support to grid-scale energy storage sites.

Three additional projects in Texas are expected to come online in 2026 and will be added to the fund at that time. The fund is backed by several undisclosed investors and B2U retains an ownership interest in the fund.

“Launching this fund is a special opportunity for B2U, made possible by our efficient, scalable model that has already demonstrated significant profitability,” said Freeman Hall, CEO of B2U Storage Solutions, in a statement. “We anticipate the fund will create a ‘flywheel effect’ for self-sustaining growth in which our projects deliver continuous returns that support the deployment of others. With a strong pipeline of EV batteries already secured, we’re poised for significant growth in the coming years. Establishing this fund allows us to carry fewer assets while securing substantial cash flow for continued growth.”

B2U also will manage day-to-day operations of the current and future projects. The company’s EV pack storage technology is designed to enable direct deployment of EV battery packs without remanufacturing, reducing project costs while supporting participation in grid services markets.

One of B2U’s California projects is the SEPV Sierra hybrid solar and storage system in Lancaster, California. The storage capacity at the facility is made up of 1,300 repurposed electric vehicle (EV) battery packs from automobile manufacturers Nissan and Honda.