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.
US electric utility Xcel Energy has launched a request for proposals (RFP) for solar and battery storage projects to replace its Allen S. King coal-fired power plant in the US state of Minnesota.
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.
A recent draft final rule on reforms of grid interconnection processes from US regulator FERC has been welcomed by the energy storage industry, although many hurdles still remain.
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.
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.
Regulators in New Jersey have opened up a Request for Information (RFI) on a draft incentive plan to promote energy storage deployment in the northeastern US state.
