ONE's LFP factory in 2024 NOVI, Mich., Feb. 1, 2023 /PRNewswire/ -- Our Next Energy Inc. (ONE), a Michigan-based energy storage technology company, today announced it has closed a $300 million Series B capital raise at a post-money valuation of $1.2 billion.
The round was led by Fifth Wall and Franklin Templeton [Assets under management: 1.53 trillion USD (2021)], and joined by ONE's Series A investors and new growth equity investors Temasek, Riverstone Holdings and Coatue. Two undisclosed strategic investors also participated in this round, including a manufacturer of EV technology solutions and a renewable energy provider, representing cell offtake agreements. ……"Closing this fundraising round is an important milestone for ONE as we focus on launching our first LFP cell factory in 2024," said Mujeeb Ijaz, CEO & Founder of ONE.