A consortium of developers has achieved financial close for US$1.3bn in debt facilities for the Red Sea project, a huge resort under construction off the coast of Saudi Arabia which plans to have the largest off-grid battery energy storage system at 1,200-1,300MWh.

CellCube has agreed a five-year, three-million litre/year bulk electrolyte supply deal with producer US Vanadium.

Northvolt has agreed to acquire a site in Sweden where it will develop its planned gigafactory, capable of producing 100GWh of cathode materials.

ron flow battery provider ESS Inc has revealed a US$477 million net loss in 2021, in its first full-year results since becoming a publicly-traded company on the New York Stock Exchange (NYSE). 

The energy transition arm of Italy’s Enel Group has started construction on a 20MW/40MWh behind-the-meter battery energy storage system at Imperial Oil’s petrochemical complex in Sarnia, Ontario, which it claims will be the largest in North America.