Mujeeb Ijaz has resumed the role of CEO at Our Next Energy (ONE) after a brief period as CTO amidst financial struggles. The company recently closed a funding round with no disclosed details. Ijaz, who initially stepped down in December 2023 after a failed Series C fundraising, has led ONE in innovative battery technology development. The startup previously faced workforce layoffs due to financial difficulties and is building a significant battery factory in Michigan. With Ijaz returning, the company aims to navigate its financial challenges more effectively.
ONE did not release any details about the new funding round size, nor did it reply to a request for comment by the time of publication.
At the time, ONE was facing a cash crunch; it had raised a massive $300 million in a Series B but was struggling to complete its financing.
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