Client
Entrepreneurship Hackathon ((London Business School)

Client
Entrepreneurship Hackathon ((London Business School)

Year
2024

Year
2024

Category
EV, Sustainability, Circular Economy

Category
EV, Sustainability, Circular Economy

SECONlife

SECONlife

Accelerating the electrification of vehicle fleets.

Accelerating the electrification of vehicle fleets.

Accelerating the electrification of vehicle fleets.

Vision

Vision

Vision

Drive the movement towards a net zero carbon future by accelerating the transition towards electric power. 

Drive the movement towards a net zero carbon future by accelerating the transition towards electric power. 

Mission

Mission

Mission

We believe every battery has a second life. We want to build a circular economy for electric batteries.


This involves funding their retrofitting in fleet vehicles and upcycling them at the end of their life.

We believe every battery has a second life. We want to build a circular economy for electric batteries.


This involves funding their retrofitting in fleet vehicles and upcycling them at the end of their life.

Problem

Problem

Problem

By 2035, all new commercial vehicles sold will be electric, replacing the current fleet of internal combustion engine vehicles that are expensive to manage.

By 2035, all new commercial vehicles sold will be electric, replacing the current fleet of internal combustion engine vehicles that are expensive to manage.

It is a huge cost barrier for small companies to convert their entire fleet into electric vehicles

It is a huge cost barrier for small companies to convert their entire fleet into electric vehicles

It is a huge cost barrier for small companies to convert their entire fleet into electric vehicles

Where do you get the money and what do you do to maintain and upgrade to meet the commercial demands of the business? 

Where do you get the money and what do you do to maintain and upgrade to meet the commercial demands of the business? 

Where do you get the money and what do you do to maintain and upgrade to meet the commercial demands of the business? 

Market Opportunity

Market Opportunity

The Market size and potental currently in the UK is massive. With almost 5 million commercial vehicles and trucks accounting for 600,000, companies are forced to move towards electric vehicles.

The Market size and potental currently in the UK is massive. With almost 5 million commercial vehicles and trucks accounting for 600,000, companies are forced to move towards electric vehicles.

Reporting Incentives

Reporting Incentives

They will be reporting pressures on carbon dioxide monitoring

They will be reporting pressures on carbon dioxide monitoring

Regulatory Pressures

Regulatory Pressures

Pressures from stakeholders to move towards electric and achieve net zero goals.

Pressures from stakeholders to move towards electric and achieve net zero goals.

Prices Incentives

Prices Incentives

Companies will be supported by price incentives with it being cheaper to retrofit rather than turnover and purchase entire fleet of vehicles.

Companies will be supported by price incentives with it being cheaper to retrofit rather than turnover and purchase entire fleet of vehicles.

Market Research Resources

Market Research Resources

https://www.bppulse.co.uk/going-electric/developing-your-ev-or-e-lcv-fleet-transition-plan

https://www.gov.uk/government/news/pathway-for-zero-emission-vehicle-transition-by-2035-becomes-law

https://electrada.com/beyond-upfront-costs/


https://www.woodmac.com/news/opinion/whats-next-for-the-ev-and-battery-value-chains/

https://statzon.com/insights/global-electric-light-commercial-vehicle-market


https://www.cmegroup.com/education/lessons/hedging-with-cobalt-metal-fastmarkets-futures.html


https://www.utilitydive.com/news/ev-batteries-repurpose-recycle-grid-storage-microgrid-nrdc/686200/


https://www.fastmarkets.com/insights/battery-chain-needs-lithium-carbonate-hedging/

https://www.bppulse.co.uk/going-electric/developing-your-ev-or-e-lcv-fleet-transition-plan

https://www.gov.uk/government/news/pathway-for-zero-emission-vehicle-transition-by-2035-becomes-law

https://electrada.com/beyond-upfront-costs/


https://www.woodmac.com/news/opinion/whats-next-for-the-ev-and-battery-value-chains/


https://statzon.com/insights/global-electric-light-commercial-vehicle-market


https://www.cmegroup.com/education/lessons/hedging-with-cobalt-metal-fastmarkets-futures.html


https://www.utilitydive.com/news/ev-batteries-repurpose-recycle-grid-storage-microgrid-nrdc/686200/


https://www.fastmarkets.com/insights/battery-chain-needs-lithium-carbonate-hedging/

Solution

Solution

Solution

Our project addresses the environmental and economic challenges of expired EV batteries by repurposing them for secondary applications. Retired batteries, still holding significant energy, are transitioned to new uses, such as stationary power storage for homes and businesses. This involves assessing each battery's residual capacity, sorting by quality, and refurbishing for optimal performance. Extending battery life reduces waste and supports a circular economy within the EV industry.

Our project addresses the environmental and economic challenges of expired EV batteries by repurposing them for secondary applications. Retired batteries, still holding significant energy, are transitioned to new uses, such as stationary power storage for homes and businesses. This involves assessing each battery's residual capacity, sorting by quality, and refurbishing for optimal performance. Extending battery life reduces waste and supports a circular economy within the EV industry.

Fleet Owners

Fleet Owners

Fleet Owners

Fleet owners can benefit from this program by using end-of-life electric vehicle batteries as collateral for securing loans, which helps manage cash flow and provides financial flexibility. When a battery reaches the end of its vehicle life, it still holds value in its materials and potential for repurposing. The fleet owner can leverage this value by partnering with a loan institution that accepts the battery as security, receiving funds upfront based on the battery’s worth.

This approach reduces immediate financial strain, supports fleet expansion or upgrades, and enables the fleet owner to reinvest in their business. As the battery is upcycled, the loan is repaid over time, creating a circular benefit cycle that enhances both sustainability and economic growth for the fleet.


Fleet owners can benefit from this program by using end-of-life electric vehicle batteries as collateral for securing loans, which helps manage cash flow and provides financial flexibility. When a battery reaches the end of its vehicle life, it still holds value in its materials and potential for repurposing. The fleet owner can leverage this value by partnering with a loan institution that accepts the battery as security, receiving funds upfront based on the battery’s worth.

This approach reduces immediate financial strain, supports fleet expansion or upgrades, and enables the fleet owner to reinvest in their business. As the battery is upcycled, the loan is repaid over time, creating a circular benefit cycle that enhances both sustainability and economic growth for the fleet.


Website

Website

Fleet owners can monitor and manage their electric vehicles seamlessly through an online platform that offers real-time data tracking and comprehensive insights. The website provides features such as battery health monitoring, energy consumption analytics, and route optimization suggestions. Additionally, fleet owners can view maintenance alerts, track vehicle locations, and access financial summaries related to operational costs and savings. This centralized dashboard empowers fleet managers to make informed decisions, enhance vehicle performance, and maximize cost-efficiency while ensuring the smooth operation of their electric fleet.

Fleet owners can monitor and manage their electric vehicles seamlessly through an online platform that offers real-time data tracking and comprehensive insights. The website provides features such as battery health monitoring, energy consumption analytics, and route optimization suggestions. Additionally, fleet owners can view maintenance alerts, track vehicle locations, and access financial summaries related to operational costs and savings. This centralized dashboard empowers fleet managers to make informed decisions, enhance vehicle performance, and maximize cost-efficiency while ensuring the smooth operation of their electric fleet.

Revenue Streams

Revenue Streams

Revenue Streams

Interest Payments

Interest Payments

On top of the lease repayment, the business can hedge/trade around the ownership of the precious metals that are contained within the battery.

On top of the lease repayment, the business can hedge/trade around the ownership of the precious metals that are contained within the battery.

Battery Recycling/ Up-cycling

Battery Recycling/ Up-cycling

Generating income through the recycling or up-cycling of batteries, contributing to a circular economy and sustainable practices.

Generating income through the recycling or up-cycling of batteries, contributing to a circular economy and sustainable practices.

Growth Model

Growth Model

Growth Model

Initial Phase: Returns via interest and Hedging

Growth Phase: second life of the batteries

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