Equity investors have already committed more than US$300 million to lithium battery recycler Li-Cycle’s plan to go publicly-listed through a special purpose acquisition company (SPAC) merger.
South African vanadium producer Bushveld Minerals is investing US$7.5 million in vanadium redox flow battery (VRFB) energy storage company Enerox, which is planning to scale up its manufacturing capabilities.
The first battery energy storage system deployed to help stabilise the electricity grid in Turkey could help show the country’s energy sector that more rapid uptake of renewable energy can be feasible and cost-effective.
While it is better known for putting lithium-ion batteries in phones, tablets and computers, consumer technology company Apple said it is building a 240MWh battery energy storage system (BESS) at a solar PV plant in California.
California’s goal of reaching 100% emissions-free retail electricity by 2045 is achievable, but will require huge deployments of long-duration energy storage, especially from 2030 onwards.
A plan proposed by US president Joe Biden to invest US$2 trillion in infrastructure has been praised for “prioritising energy storage and policies that support the industry’s growth”.
TWAICE, a software company headquartered in Munich, has launched a platform aimed at helping energy storage system operators manage the profitable use of their assets against the impact that has on the health of their batteries.
Funding secured from its main shareholder group will help vertically-integrated energy storage company Leclanché push forward activities in its stationary storage business, CEO Anil Srivastava has said.
While interconnection queues for America’s electric transmission and distribution operators are “swelling up” with growing numbers of energy storage projects, some of the big challenges ahead include enabling fair market participation for both standalone storage and storage paired with generation.
A pumped hydro energy storage (PHES) project at a former gold mine in Queensland, Australia which would be able to store 250MW of power for up to eight hours has raised significant funding in the past few days.
