ONE ​Welcomes Mujeeb Ijaz as CEO and Announces​​ ​Strategic Investment to Drive Next Phase of Growth 

NOVI, Mich., March 6, 2025 – Our Next Energy (ONE), a leader in sustainable energy storage systems, today announced the appointment of Mujeeb Ijaz as Chief Executive Officer (CEO). Ijaz succeeds Paul Humphries, who retires after serving as CEO since December 2023. Under Humphries’ leadership, ONE successfully launched Aries LFP​, the company’s signature lithium iron phosphate (LFP) battery pack, ​into production, ​thereby setting the foundation for​​ ​ONE’s future growth. The company extends its gratitude for these contributions during Humphries’ tenure. 

Mujeeb Ijaz, founder of ONE and a 35-year battery industry veteran, will lead ONE’s next phase of commercialization in both energy storage system (ESS) and electric vehicle (EV) product offerings. Since its founding in 2020, ONE has developed industry-leading products that span the range of battery-based energy solutions and industrial applications and is now focused on delivering these innovations to its customers at scale. The company commenced production of prototype U.S.-made LFP cells at ONE Circle, its Michigan gigafactory, during 2024 and is gearing up for full-scale manufacturing of domestic cells and battery packs by early 2027.

ONE also announces the closing of its latest funding round, led by Crescent Ventures LLC together with Trousdale Ventures LLC and Ivanhoe Capital Holdings Pte Ltd. Mansoor Ijaz, chairman of Crescent Ventures, said “Our Swiss partners, led by Nick Grey and I, are committed to supporting Mujeeb and the brilliant team he has assembled at ONE as they build America’s leading battery company and reassert American industrial leadership throughout the world.” 

“ONE is driving the next wave of battery innovation,” said Robert Friedland, Chairman of Ivanhoe Capital. “With our upstream supply chain expertise and our other synergetic portfolio investments, we see strong collaboration opportunities to advance the battery sector in the U.S.” 

​​​“ONE is not just a battery company. It is​ an essential part of the EV supply chain, one that is​ driving domestic manufacturing and enabling one of the biggest technological revolutions of this century​,” said Phillip Sarofim, founder and CEO of Trousdale Ventures.​ ​“We ​are thrilled to support ONE and share their​​ ​ambitious​​ vision ​to​​ scale American innovation globally.” 

ONE also announces the appointments of Mansoor Ijaz and Hinrich Woebcken, ​General Partner of Trousdale Ventures and ​former CEO of Volkswagen Group of North America, to its board. ​Regarding his appointment,​ Mr. Woebcken​ said​,​ “​ONE is at an inflection point, transitioning from pilot-scale operations to high-performance, full-scale manufacturing to better serve its customers. I look forward to leveraging my experience in industrialization and market scaling to support ONE in building a world-class, U.S.-based manufacturing ecosystem.” 

About Our Next Energy 

Our Next Energy, Inc. (ONE) is a Michigan-based energy storage technology company focused on engineering batteries that will accelerate electrification in vehicles, renewables and the grid. ONE’s vision is to double the range of electric vehicles and decarbonize the utility grid by using safer, more sustainable raw materials, and establishing a localized supply chain. Visit www.one.ai to learn more. 

Media Contact: Dan Pierce; dpierce@one.ai