Energy Storage Company Sheru Enters Coveted Cleantech Open Accelerator Program

Delhi-based Energy Storage startup, Sheru has been selected for the Cleantech Open Accelerator program 2022 cohort. The Cleantech Open Accelerator program is offering entrepreneurs and innovators training and tools to help them build and expand their cleantech enterprises. Since 2005, it has assisted over 1,800 creative businesses in scaling up, growing, and making a good influence on society.

Sheru is one of only two Asian companies chosen for the program, and the only one from the energy sector. Sheru claims that its revolutionary cloud storage technology offers cloud storage solutions to energy producers while also making energy storage simple and accessible. The company’s storage systems aim to reduce carbon emissions from India’s power sector by 30%.

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Sheru was founded by three BITS Pilani graduates, who have more than 15 years of combined experience in EV and battery technology. Together, they have developed a full stack pay-per-use energy platform for India’s rapidly growing EV industry. India presently has over 2 million e-rickshaws and adds 50k new e-rickshaws every month, making it the country’s largest EV form factor.

Sheru provides e-rickshaws with swappable batteries on a pay-per-use basis since the lead-acid batteries had disadvantages such as regular maintenance, long charging periods, and were inconvenient. Drivers were also required to purchase the batteries outright, which was an expensive upfront expenditure for them.

“We’re honored to be selected for this esteemed program and look forward to meeting and exchanging ideas with innovators from around the world. Creative solutions across sectors are the need of the hour, and we want to showcase our technologies to the rest of the world while gaining firsthand experience of other innovations. We are also proud to be the only energy company from Asia in this elite group”, says Ankit Mittal, Co-founder, and CEO of Sheru.

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In an interview to Saur Energy International, Ankit Mittal spoke about the energy storage platform and discussed how extending the net metering policy to energy storage devices will help grow the market.