Thermal energy storage company Rondo Energy has completed a US$60 million fundraising round from investors including Rio Tinto, Microsoft, Aramco and Energy Impact Partners.

The four most high-profile energy storage system (ESS) companies that listed via SPAC mergers – Eos, Energy Vault, ESS Inc and Stem – have seen their share prices fall by an average of 80% since going public.

Developer Recurrent Energy, an arm of solar PV and ESS manufacturer Canadian Solar, has secured a 20-year agreement with a local utility for a 1,200MWh battery storage project in Arizona.

Since the Inflation Reduction Act, US$270 billion of US clean energy investment has been announced while downstream projects in development have hit 185GW – 80% and 92% higher than four months ago.

Zinc battery firm Eos Energy Enterprises saw reduced activity in Q2 as it transitioned to its Z3 product, while CEO Joe Mastrangelo discussed its backlog, the subject of a recent short-seller note.

Oregon-based Powin Energy, one of the largest battery energy storage system (BESS) integrators, has appointed Jeff Waters as new CEO to replace the outgoing Geoff Brown.

A total of 71GWh of new grid-scale energy storage needs to be deployed in Italy by 2030 for it to decarbonise its energy system in line with the EU targets.

The government of New Caledonia, a French overseas territory in Polynesia, has announced plans for a 150MWh battery energy storage system (BESS) to be deployed by IPP Akuo Energy.

The early numbers on the benefits of the Energy Superhub Oxford’s combination of lithium-ion and vanadium flow batteries are “encouraging”, project owner EDF Renewables told Energy-Storage.news in an interview one year one from its launch.

Second life energy storage firm Stabl has raised €15 million, while its CEO told Energy-Storage.news the second life market will “struggle with the deteriorating performance of their systems in the coming years”.