The Techstars Alabama EnergyTech Accelerator is in its fourth year with 12 startups from Alabama, eight other states and even the nation of Latvia. Alabama News Center is putting a spotlight on the companies in the 2023 class.

In this Startup Spotlight, we look at Scoutit.

Techstars Alabama EnergyTech Accelerator 2023: Scoutit from Alabama News Center on Vimeo.

Company: Scoutit Inc.

Company hometown: We are originally from northern Italy, but the company is based in Raleigh, North Carolina.

Leadership: Davide Giacobbe and Niccolò Ferrari.

Alabama News Center: What is your company’s overall focus and mission?

Davide Giacobbe and Niccolò Ferrari: Our mission is to find a solution to the end-of-life of electric vehicle (EV) batteries. Did you know that most EV batteries get dismissed when they still have 70-80% of capacity left? When we found this out, we really thought there had to be an alternative. Scoutit’s focus is to enable battery reuse and repurpose solutions, before recycling, maximizing lifetime and extracting the most profit out of EV batteries. It’s a win-win situation for both the environment and the economy. We are committed to serve and enable a true battery circular economy, and offer products based on these second-life EV batteries.

ANC: What inspired you to start this company? How do you want to contribute to the future of energy and tech?

Giacobbe and Ferrari: During our previous careers in the automotive industry (Lamborghini, Ferrari, Yamaha, Ducati), we saw the criticalities, but also opportunities that electric vehicles brought to the market. Technological development never comes without side effects, and with Scoutit we aim to solve them. We understood that management of retired EV batteries was one of the biggest issues so far, and soon envisioned that Scoutit would enable a truly circular economy for batteries, enabling second-life solutions in energy storage applications, connecting the automotive and energy industries. This is our contribution to the future of EnergyTech and also to our planet.

ANC: What attracted you to the Techstars Alabama EnergyTech Accelerator?

Giacobbe and Ferrari: We found out about Techstars Alabama by talking with other startups in our industry that went through the program in the past few years and heard about their amazing experience. As an early-stage company, we knew Techstars would be the right launchpad for us, and having Alabama Power Company backing the program means we get direct feedback from the market and its key players.

Scoutit founders Niccolò Ferrari, left, and Davide Giacobbe say the EV battery reuse market is going to be massive and they’re excited to enter the arena as an early player. (contributed)

ANC: What is the No. 1 thing you’d like potential investors to understand about your company?

Giacobbe and Ferrari: Millions of EV batteries will be retiring each year from 2025, most of which can have a second life in the battery energy storage industry. This market is expected to grow with a 23% CAGR (compound annual growth rate) from here to 2030, as the U.S. will need a total of 365 GWh (gigawatt hours) of battery energy storage by 2030. Also, second-life batteries can save 150 tons of CO2 for each MWh (megawatt hour) of energy storage. The EV battery reuse market is going to be massive and, as Scoutit is an early player, we are establishing ourselves as the key between the automotive and energy industry.

ANC: What takeaways do you hope to gain for your company by participating in the Techstars Alabama EnergyTech Accelerator?

Giacobbe and Ferrari: First of all, we want to deploy a fully functioning battery storage solution based on EV second-life batteries that can be used by Alabama Power. We then want to grow a solid network of partners and customers in Alabama, in order to speed up product adoption and get feedback from the market. Finally, we want to learn from the other startups in the cohort and collaborate with them to help each other grow faster.

ANC: What is your opinion of Birmingham so far?

Giacobbe and Ferrari: Coming from Italy, we didn’t know much about Birmingham or Alabama in general. However, we were quickly astonished by the abundance of activities, fairs and cultural events. We were also left in awe of the beautiful natural landscapes just outside the city. Birmingham is such a vibrant place, and everybody here gave us a warm welcome. There is a lively tech community that is rapidly making a name for itself and, as motorsport fans, we also appreciate the presence of some nice racetracks and museums just around the corner.

Contact: www.scoutitweb.com, https://www.linkedin.com/in/nick-ferrari, https://www.linkedin.com/in/davidegiacobbe.

Alabama News Center is highlighting the 2023 Class of startups participating in the Techstars Alabama EnergyTech Accelerator. Learn more about Techstars here and read company profiles of Ai-Ops, Clever Offsets, EV Safe Charge, Grid Discovery and Maverick IQ.