Long-duration energy storage startup Form Energy has confirmed details of its recently reported Series C investment round, with Bill Gates’ Breakthrough Energy Ventures among continuing investors.
The Australian government-backed Clean Energy Finance Corporation (CEFC) has committed AU$125 million (US$92.12 million) to help build grid infrastructure for a 2GW pumped hydro project with 175 hours of storage duration.
Policymakers for New South Wales in Australia have been debating a bill to co-ordinate investment in the state’s electricity infrastructure that includes 2GW of long-duration energy storage and AU$50 million (US$36.71 million) support for green hydrogen over 10 years.
While lithium-ion continues to dominate big project announcements worldwide, three providers of long-duration non-lithium battery technologies have claimed various milestones in commercialisation.
Another contract has been signed for energy from a large-scale solar-plus-storage plant by one of California’s Community Choice Aggregator (CCA) groups.
Eos Energy Storage has signed an agreement to deploy "more than 1GWh" of its aqueous zinc chemistry battery energy storage systems worth around US$250 million with US-based project developer Hecate Energy.
The latest annually-published figures from financial advisory and asset management firm Lazard show that the on the levelised cost of energy storage (LCOS) continues to fall, with solar-plus-storage becoming increasingly price competitive.
A group of Community Choice Aggregators (CCAs) in California, US, are seeking long-duration energy storage to add resiliency to their electricity networks serving around three million customers.
The value of energy storage increases with growing shares of renewable energy on the grid, but the availability and cost of storage will determine how successful decarbonisation with renewables can be.
Form Energy has closed a US$40 million Series B funding round led by Eni.
The UK’s transmission system operator National Grid’s redesigned Capacity Market targets around 50GW of reserves up to 2023 and could be an early step towards longer duration energy storage batteries.