February 27, 2024
How old Tesla batteries are turned into smart energy storage units


Old Tesla batteries can look forward to new lives thanks to new funding for an energy system built from the ageing power units.

The concept is the brainchild of Cactos, a startup based in Finland. Cactos converts the batteries into smart electricity storage units, which optimise energy consumption.

Investors are providing growing backing for the approach. Cactos today announced that it’s raised over €26mn in equity funding, which the startup will use to build more units. OP Finland Infrastructure LP and the Finnish Climate Fund are the lead investors in the round.

To upcycle the Tesla batteries, Cactos disassembles their cassettes and extracts their modules.

Next, the modules undergo quality and safety tests. If they pass, engineers install them in the cabinet of the battery energy storage systems (BESS). The batteries can then begin a new job as managers of electricity use.

“Tesla batteries are of very good quality and include features that make them suitable for BESS applications,” Oskari Jaakkola, the CEO and founder of Cactos, told TNW.

A large Cactos energy storage system