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Elimen looks to raise millions

A Polish company that creates solutions for electromobility and power electronics is looking to raise over PLN 8 million to fund its development and market expansion.

Elimen specializes in the design and popularization of technologies that meet the needs of sustainable development, such as electric vehicles and energy storage. Examples of projects carried out by the company include solutions for municipal transport, the construction industry and motor sport. It is also energy storage that can be combined into distributed systems and the world’s first professional system for diagnostics, repair and balancing of battery packs in electric vehicles. The company’s goal is to create unusual solutions in its R&D base and adapt them to mass production with foreign partners.

“Elimen Group is a team of people with diverse, complementary experiences. The ambition of our team is to dynamise the development of Polish electromobility and build a green future for generations. The solutions we design are in line with the UN Climate Goals. The era of fossil fuels is not over yet, but energy independence built on the basis of renewable energy sources is gaining strategic importance both for individual customers, businesses and entire countries,” says Cezary Klimont, president of Elimen Group.

Elimen team: Przemysław Rozmysłowicz i Daniel Śliwka

Elimen plans to increase its capital by PLN 8 million in the form of an offer for a limited number of selected investors. The funds obtained thanks to the starting round of financing will be allocated to scaling its sale of products – especially drives and energy storage, as well as expansion of the machine park and the purchase of components, which will allow it to increase production. According to conservative estimates, by 2025 the company’s turnover is to exceed PLN 50 million.

“Solutions for sustainable development are not only long-term, but are also needed here and now. In addition, Elimen, by creating original concepts, actively collaborates with many Polish companies, helping to build the strength of Polish business in the world,” says Łukasz Blichewicz, president of the Assay Group, which has invested in Elimen Group.

The company’s portfolio includes a number of ready-made and proven proprietary designs, such as electric drive motors, control systems, BMS (Battery Management Systems), and home and industrial energy storage. Elimen Group also creates custom-made solutions. All this thanks to the work of its own team of constructors and supply chains.

“Prototypes of our devices are assembled and tested in our laboratory and in the dynamometer test room. In turn, scaling up production takes place on external resources. Working with a number of Polish companies, we create products of the highest quality. They are entirely based on technological solutions developed by Elimen. This model of operation allows us not only to better respond to the needs of Polish and foreign contractors, but also to support the development of the domestic economy,” says Przemysław Rozmysłowicz, Chief Engineer Officer at Elimen Group.

First: innovative engines

The automotive industry is one of the foundations of Polish exports – in the first half of 2021 alone, domestic companies from the automotive, trailer and semi-trailer manufacturing sector sold goods and services worth almost PLN 88 billion abroad. Sales increased by 40% year-on-year, driven in some measure by the expansion of the electromobility sector in Poland.

The global outlook is very promising. A number of countries see electromobility as a key tool for decarbonizing transport. In 2021, over 5.5 million electric cars will appear on roads around the world and the value of the e-mobility market will reach $244 billion. Such dynamic development of global electromobility will result in reaching a level of 700 million zero-emission cars as early as 2040, according to the latest report published by Bloomberg New Mobility Finance during COP26 in Glasgow. Elimen wants to join this strong trend.

“On a daily basis, we design drive systems for many different industries – from the automotive industry to the construction, marine or defense industry. Three years ago, we made a strategic decision to develop our own drives, due to the negligible market availability of drive systems that maintain their real parameters under operating conditions. Our goal is to provide the customer with data and simulation models to make the right purchasing decisions,” says Daniel Śliwka, Chief Technology Officer at Elimen Group.

Electric buses, batteries for electric vehicles, battery management systems and electric motor control – increasingly such products and services meet the needs of foreign contractors, especially in countries where the popularity of electric vehicles is growing rapidly.

“Electromobility is entering the world of motorsport – it is a fact. For example, Formula E, which uses only electric vehicles, has been growing in popularity for several years. Electric sports cars are characterized not only by ecological values, but also less unreliable due to their design,” adds Kuba Przygoński, rally driver, world runner-up and multiple Polish champion, for whom Elimen has prepared a special electric drive with a capacity of 1500 HP.

“The Elimen’s motor that I test exceeds the parameters of other electric drives currently available on the market. I am delighted with the possibilities of my electric car,” adds Przygoński, who is the ambassador of the campaign “Electromobility – green light for the climate.”

Second: efficient energy storage

Elimen Group is increasingly marking its presence outside the world of electromobility, creating energy storage – both small home appliances and large container solutions for industry or renewable energy farms. Their modularity allows you to adjust the storage capacity to specific customer requirements.

“We design and build warehouses for households with a photovoltaic installation – thanks to them, they can regulate the level of consumption and store the generated energy for later use. We also offer solutions for enterprises that need an effective source of emergency power – as container, modular and scalable energy storage based on control systems developed by us. At the same time, we are working on a unique concept of distributed energy storage, which ensures energy security, while optimizing the consumption of energy from various sources,” says Przemysław Rozmysłowicz.

Elimen Group engineers create tailor-made solutions, providing a range of design services, including full documentation. Specialists also offer engineering consultations that allow you to define product assumptions and criteria, so as to create prototypes of products that meet the various needs of customers.

The company’s plans for the future include product licensing. By constantly optimizing the technologies being developed, Elimen wants to become a partner in the field of innovative solutions for electromobility producers and people looking for modern solutions related to energy management.

The company’s development may be much faster than in many other industries, because both the electromobility market and the energy storage market will grow almost exponentially. According to the International Energy Agency (IEA), the global increase in energy production from renewable energy sources in 2050 will be 250% higher than it is now, and then it will be the most important source of energy. Additionally, the analyses of Bloomberg NFE show that by 2040 as much as 80% of newly sold cars will be electrically powered.

Elimen wants to get the most out of this business pie.

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