UK, France, Netherlands commit US$350m to emerging storage and solar
The UK pledges US$250 million for global energy storage as France and the Netherlands announce US$100 million for solar initiatives.
Articles tagged with: Funding
Next generation UK battery storage research receives US$68 million boost
A £55 million (US$67.8 million) fund has been earmarked for five projects in the UK looking at developing the next generation of battery storage technology.
Mitsubishi leads US$50m investment round for off-grid solar ‘utility’ BBOX
BBOXX has successfully closed a US$50 million Series D funding round that will see the next generation utility company accelerate its global expansion efforts.
Mercom: Upstream battery industry got lion’s share of VC funding in H1 2019
Northvolt, the consortium looking to establish gigawatt-scale lithium battery manufacturing in Europe and Sila Nanotechnologies, a battery technology startup, were the recipients of the highest sums of venture capital (VC) funding in the first half of 2019 in the battery storage sector.
World Bank’s new global partnership to ‘adapt and develop’ energy storage for emerging economies
World Bank Group has set up a “global international partnership” to support the deployment of energy storage in developing countries, just a few months after committing a US$1 billion sum to the sector.
Over $150m in electric bus funding made available by UK ESS company Zenobe
'Own and operate' model creates option of a ‘one-stop’ solution for customers in exchange for a pence per-mile service fee or fixed monthly charge.
‘Flow machine’ maker redT gets £3.2m funding needed to power projects
Energy storage firm redT has landed more than £3 million (US$3.92 million) from an open share offer, effectively securing its immediate future.
Australian Energy Market Operator opens virtual power plant integration trial
The capabilities of virtual power plants (VPPs) to provide capacity as well as frequency regulation services to the grid in Australia will be demonstrated through a new integration trial.
New York’s latest Innovation Challenge targets long duration energy storage startups
The development of systems capable of storing over six hours of energy economically is being supported in New York with an Innovation Challenge launched by the New York Power Authority (NYPA) and Urban Future Lab, a cleantech innovation centre.
Feature
Editor's blog
2019: The next episode
In today’s third and final instalment of our series to welcome in 2019, we look at what our respondents are expecting to see this year, what they would like to see happen and some of the ways they will be trying to fulfil those expectations.
South Australia launches AU$50 million fund for grid-scale energy storage
In order to address intermittency in its grid, the South Australian Government has introduced a AU$50 million (US$36 million) Grid Scale Storage Fund (GSSF) to help accelerate the deployment of new large energy storage projects, including pumped hydro, hydrogen, gas storage, solar thermal, bioenergy and battery storage.
Australian state of Victoria inaugurates first grid-scale project through energy storage initiative
A 30MW / 30MWh battery energy storage system has been inaugurated with a ceremony in Victoria, Australia, with one project partner describing the switching-on as “a real watershed moment in the continuing modernisation” of the state’s energy supply.
Britain’s second energy storage fund seeks US$260m for 262MW pipeline
Investment management firm Gresham House is to float an energy storage fund on the London Stock Exchange next month, with an aim to raise £200 million to fund 262MW of energy storage projects over the next year.
US DoE awards long duration energy storage funding, renews US$120m research commitment
Just over US$28 million has been awarded by the US Department of Energy to projects that could deliver energy storage durations of up to 100 hours, while also committing US$120m to the Joint Center for Energy Storage Research (JCESR).
‘World’s number one market’ – South Australia’s battery subsidies and Sonnen’s new factory
Subsidies will be available to residents of South Australia who want to purchase home battery systems from next month, while Sonnen looks set to open up a manufacturing and shipping centre in the state.
Mercom: Behind-the-meter providers among top five VC fund recipients in H1 2018
VC funding for battery energy storage companies in the first half of this year has already exceeded 2016’s total and looks on the way to bettering 2017, with US$539 million raised across 29 deals.
Sonnen CEO: Shell and other major players taking action, not just talking, about clean energy
Shell, which has just participated in an investment round for sonnen, is one of the big players in the incumbent energy industry that “really acts” on clean energy, rather than just talking about it, sonnen’s CEO has said.
Rick Perry’s DOE thinks 100 hours of energy storage is the answer
The US government Department of Energy is funding research into storing energy for periods of between 10 and 100 hours, announcing last week that “up to US$30 million” will be available through the Advanced Research Projects Agency-Energy (ARPA-E).
Australia’s molten silicon storage tech player 1414 guns for AU$50 million IPO
1414 Degrees, an Australian startup manufacturing thermal energy storage systems using a proprietary silicon storage medium is preparing to launch an Initial Public Offering (IPO) and build a 200MWh ‘module’ at a renewable energy facility.
Breaking Redox flow ‘leader’ VIZn admits cashflow difficulties, denies going out of business
Flow battery manufacturer VIZn Energy has confirmed that nearly all its employees have been “furloughed” amid financial difficulties, but denied that the company has exited the business altogether.
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Mercom: VC funding for battery storage almost doubled last year
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
Storage investment rush continues as Stem raises US$80 million in Ontario
Stem Inc, self-described as a supplier of “artificial intelligence-powered” energy storage, which deployed a system on average every two days last year, has closed a US$80 million Series D financing round.
AU$4,000 per household energy storage rebates offered in Australian Capital Territory
The Australian Capital Territory, the country’s federal district and home of national capital Canberra, is supporting the planned roll-out of 36MW of customer-sited batteries by funding a further AU$3 million (US$2.39 million) in rebates.
ENGIE, Macquarie invest in Connected Energy’s ‘2nd life’ EV pack storage
Energy storage provider Connected Energy has secured £3 million (US$4.13 million) of investment from Macquarie Group and ENGIE to fuel its growth plans in the UK and abroad.
BASF among investors putting US$13m into flow battery maker ESS Inc.
ESS Inc, among several companies looking to commercialise a flow battery energy storage technology, has netted US$13 million in a Series B funding round from investors that include global chemical company BASF.
Massachusetts funding US$20 million for 85MWh of energy storage projects
Massachusetts, one of the few US states thus far to put consideration of energy storage into long-term planning decisions for electric utilities, will support 26 projects with US$20 million in grants.
South Australia’s AU$150m Renewable Technology Fund supports energy storage projects
The government of the state of South Australia has named four utility-scale energy storage projects which it will support with grants toward the total cost of development.
Swiss investor SUSI puts US$95 million into Canada’s C&I energy storage market
Swiss institutional investment group SUSI Partners has agreed to finance C$120 million (US$94.56 million) of commercial and industrial (C&I) sector energy storage projects by Canadian project developer/owner NRStor.
European Commission will pump €200m into creating sustainable battery industry
Intended to “kick start concrete projects”, the European Commission is set to allocate a further €200 million (US$235.53 million) towards supporting the scale-up of lithium battery manufacturing on the continent.
Australia’s first unsubsidised grid-scale battery helped by CEFC debt-financing
Australia’s Clean Energy Finance Corporation (CEFC) will help finance the country’s first “unsubsidised large-scale grid-connected battery”, co-located with a wind farm in South Australia.