ReJoule Receives 2024 Sustainable Practice Impact Award
tl;dr
ReJoule was founded by siblings Steven and Zora to develop battery diagnostics and optimization solutions, enabling a circular economy for EV batteries.
In March 2024, ReJoule won the Sustainable Practice Impact Award for its work in improving energy efficiency, reducing waste, and extending battery life.
The award, presented by The Lemelson Foundation at the VentureWell OPEN conference, recognizes ReJoule’s innovative approach to testing and repurposing EV batteries.
ReJoule’s journey began over 7 years ago when Steven was finishing his Master’s in Electrical Engineering. He realised there was no fast and easy way to understand a battery’s health. Looking into the future, Steven started to wonder what will happen to all those electric vehicle batteries when they start to age. Not only when the batteries are no longer good enough for the road, but even when it comes time to repair the battery or assess the residual value.
He decided to call his sister Zora who was one of the few people he knew in business at the time to help him assess the business opportunity. After interviewing several stakeholders across the automotive industry, they quickly learned this was a huge gap in the market. That’s when they decided to found ReJoule to create solutions to monitor and extend the life of the battery. As you can probably tell from the name, their goal was to enable a circular economy so they could maximise the value of every battery.
In March 2024 at the Venturewell OPEN conference, ReJoule received the Sustainable Practice Impact Award. The award recognises companies or individuals who have demonstrated outstanding achievement in developing clean technologies, implementing sustainable practices in their businesses, or providing exceptional educational opportunities to university students. With this award, VentureWell and The Lemelson Foundation recognise ReJoule’s work in helping to create a circular economy for retired EV batteries—improving energy efficiency, and reducing waste and cost.
Dr. Robert Lemelson, the Board Chair and President of the Lemelson Foundation, presented ReJoule with this year’s award. He shared "The 2024 awardee has created a battery diagnostics and optimization company focused on maximizing the value of every battery. Their groundbreaking work has helped to create a circular economy for retired EV batteries, improving energy efficiency and reducing waste and costs. They have developed a fast, new method for testing the health of decommissioned electric vehicle batteries and using these batteries to develop a solution for storing solar power and dispatching it at peak hours. This exemplifies sustainably-based focused entrepreneurship, developing and leveraging new technologies in the pursuit of positive change." This is the 12th year of the Sustainable Practice Impact Award - see past winners here.
You can read more about ReJoule’s journey in an interview with VentureWell here.
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