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Founder of battery startup Our Next Energy returns as CEO following new funding

ONE also announced the close of a new funding round. © 2024 TechCrunch. All rights reserved. For personal use only.



Founder Mujeeb Ijaz returns as CEO of battery startup Our Next Energy (ONE) following a new funding round led by Crescent Ventures and Trousdale Ventures. Ijaz previously stepped down as CEO in December 2023, becoming CTO after the company struggled to secure Series C funding. The startup had raised $300 million in Series B, valuing it at $1.2 billion, and was constructing a $1.6 billion LFP battery factory in Michigan. The new funding follows leadership changes, with Ijaz replacing interim CEO Paul Humphries.

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