Our Next Energy Stock: Can You Buy ONE Stock and What Are the Alternatives?

As electric vehicle adoption grows worldwide, the need for better EV batteries grows with it. Our Next Energy is a Bill Gates-backed battery startup claiming it can double the range of EVs. Read on to learn more about Our Next Energy stock, how you can invest, and what the alternatives are.

David Dierking   Updated April 9th, 2022

Credit: Our Next Energy

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What is Our Next Energy (ONE)?

Our Next Energy (ONE) was founded in July 2020 to develop better EV batteries and speed up the transition to electric cars. Today, the Novi, Michigan-based startup has more than 80 employees. ONE was founded by Mujeeb Ijaz, who previously worked at Ford helping to develop hybrid fuel cell technology and at Apple developing its self-driving electric vehicle.

ONE offers two types of battery solutions. The first is the cobalt-free Aries battery system, which relies on the lithium-iron-phosphate (LFP) chemistry. It reduces fire risk relative to lithium-ion batteries while improving car range and lowering cost. Importantly, the batteries don’t need cobalt, an expensive and difficult to source “green metal.”

The second battery solution is the Gemini, a battery range extender enabling long-distance trips on a single charge. Recently, it achieved a distance of 752 miles on a single charge, nearly twice what Tesla can currently produce.

Battery range extenders are important. According to one study, 85% of all vehicles are taken on at least one annual trip longer than 300 miles. Many potential buyers are delaying EV purchases because of “range anxiety.” ONE is looking to develop solutions that allow for longer-distance driving without the need for frequent recharging.

To be clear, ONE battery systems are not yet commercially available, so their superior specs remain theoretical. ONE expects to begin production of the Aries battery system in late 2022. The Gemini will begin production sometime in 2023.

Is Our Next Energy publicly traded?

Launched in 2020, ONE remains a privately-held company that does not trade on the public markets. While it’s possible the company could file for an initial public offering at some point in the future, it’s unlikely to happen in the near term.

Instead, ONE continues to raise funding from venture capital firms.

In October 2021, the company announced that it had closed on a $25 million Series A capital raise. Several industry heavyweights participated, including Breakthrough Energy Ventures, the investment fund founded by Bill Gates in 2015. Also participating were Assembly Ventures, BMW iVentures, Flex, and Volta Energy Technologies. The funding is intended to be used towards the development of the Aries and Gemini batteries.

In March 2022, ONE announced that it had completed a second $65 million capital raise. This one was led by BMW iVentures, but featured most of the original investors as well as newcomer Coatue Management. The primary use of this funding will be to build a U.S. cell factory that will produce the Aries and Gemini batteries.

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How to buy Our Next Energy stock

Our Next Energy does not have common shares that you can trade on an exchange. ONE is an early-stage startup, so the potential investment is available only to venture capital firms.

There are ways to invest in renewable energy startups through several platforms, such as AngelList and StartEngine, but those come with additional risks, such as a lack of liquidity, high failure rates, and limited available information. You can also read our reviews of AngelList and StartEngine.

Our Next Energy stock alternatives

Investing in privately held companies can be challenging to most investors, especially those without millions to invest. But publicly traded alternatives do exist. You can target individual battery stocks or battery tech ETFs that offer broader exposure.

Global X Lithium and Battery Tech ETF (LIT)

Even though EV batteries, most of which rely on lithium-ion technology, seem like a relatively new development, LIT has been around since 2010. It invests in the full lithium cycle, from mining and refining the metal, through battery production. LIT is a globally diversified portfolio that consists of roughly 40 mostly large-cap names and charges 0.75% annually.

Amplify Lithium and Battery Technology ETF (BATT)

BATT targets companies that generate significant revenue from the development, production, and use of lithium battery technology. This can include battery storage solutions, battery metals and materials, and electric vehicles. It’s more diversified than LIT, holding more than 80 stocks and focusing more on miners than the technology side. It charges 0.59% per year.

WisdomTree Battery Value Chain and Innovation ETF (WBAT)

WBAT aims to offer exposure to companies involved in battery and energy storage solutions and innovation. It’s very diversified but tends to tilt more heavily towards the parts of the battery value chain that offer the highest growth potential. With an expense ratio of 0.45%, it’s the cheapest of the three ETFs but was only launched in February 2022.

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EV battery stocks

If you are interested in Our Next Energy, you may want to check out QuantumScape (QS) and Solid Power (SLDP), two battery startups developing lithium-ion battery alternatives.

Unlike conventional lithium-ion batteries, solid-state batteries use a solid, not a liquid electrolyte. Solid-state batteries promise better safety at a lower cost, faster charging, and longer life. However, the technology is not widely adopted yet.

San Jose, California-based QuantumScape is the largest publicly traded company developing a solid-state battery. The startup’s investors include Bill Gates and Volkswagen. It has over $7.7 billion in market cap though no sales at this point. You are betting on the potential of the technology.

A competitor of QuantumScape, Solid Power is a startup developing solid-state batteries for EVs. SLDP has partnered with automakers like Ford and other battery makers like SK Innovation and hopes for $1 billion in revenues in 2027.

Our Next Energy has a great deal of potential. In a world where most electric vehicle batteries have a range of up to 400 miles, ONE’s battery, which could nearly double that range, could be a gamechanger if successful. Since ONE is not publicly traded, you should seek out alternatives in the clean energy space, such as the ones listed here.

🔔 Learn more about investing in EV battery stocks and battery ETFs.

NOT INVESTMENT ADVICE. The content is for informational purposes only; you should not construe any such information as investment advice.

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