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.
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.
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).
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.
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.
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.
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).
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.
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.
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
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.
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.
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.
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, 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.
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 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.
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 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.
The amount of VC funding invested in battery energy storage companies in the first nine months of this year has more than doubled from the equivalent period of 2016, according to a report from Mercom Capital.
Caribbean Development Bank commits US$350k for energy storage, grid modernisation with Canadian help
The Caribbean Development Bank (CDB) has approved funds of USD$350,000 for energy storage and grid modernisation in the Caribbean.
Two US Senators introduced a bill in Congress at the beginning of this week that would require the national Secretary of Energy to establish research and demonstration programmes and deployment strategies for energy storage, if passed.
The government of Jay Weatherill, premier of South Australia, has just formally launched three Calls for Proposals under the Renewable Technology Fund, a programme to foster private investment and accelerate project development in clean energy technologies.
Britain's government has thrown its weight behind vehicle-to-grid (V2G) by announcing £20 million (US$25.8 million) would be available for a competition to further the development of the bi-directional electric vehicle charging technology.
Up to US$6.3 million in funding will support the commercialisation of emerging energy storage technologies in New York, from public benefit corporation NYSERDA (New York State Energy Research & Development Agency).
Over €12 million (US$13.18 million) in funding will be provided to two European projects to examine and exploit synergies between the stationary energy storage and transport sectors, through the EU’s Connecting Europe Facility (CEF) funding instrument.
Flow battery maker Primus Power was leader of the charts in VC funding in the first quarter of 2017, securing US$32 million from a range of investors, according to Mercom Capital’s latest report.
Projects that demonstrate how energy storage can benefit a wide range of stakeholders and the electric grid can compete for US$15.5 million of funding from the New York State Energy Research and Development Authority (NYSERDA).
The participation of venture capital (VC) investors seems to have cooled, while project funding has conversely seen a sharp rise, in the latest quarterly report into funding and mergers and acquisitions from Mercom Capital.
Germany headquartered “intelligent battery storage” and energy services provider Sonnen has just obtained US$85 million in its fourth financing round, from a range of investors. The company said the funds would be used both home and abroad, with Sonnen operating in markets including Italy, Australia, the US and the UK. Andy Colthorpe spoke with the company’s CEO Christoph Ostermann to learn more.