Developers SMT Energy and SUSI Partners have secured a tax equity financing agreement for 100MW of ERCOT, Texas battery storage projects with ‘specialised tax equity’ investor Greenprint Capital.

ESS Inc has improved ability to recognise revenues and reduced direct costs of production of its flagship product by 30% in Q2 2023.

Energy Vault has secured a US licensing deal for its gravity energy storage technology and awards covering its other technologies there and in Southeast Asia, it said in its Q2 results.

Around 16GW of battery energy storage system (BESS) projects got preliminary registration for this year’s capacity market auction in Poland, developer Hynfra told Energy-Storage.news.

Microvast is receiving more purchase orders from the US energy storage market than it can produce, the battery cell, pack and energy storage system manufacturer has said.

Concern has been raised by the industry about battery storage consistently being overlooked in the UK’s Balancing Mechanism (BM), as the sector’s average revenues plummeted in the first half of 2023.

The US saw roughly triple the amount of grid-scale battery storage installed in the second quarter of this year as it did in the preceding quarter, in megawatt terms.

The lithium industry needs US$116 billion of investment to achieve the 5.7x ramp-up in production needed for 2030 decarbonisation goals, and prices may remain ‘tight’ in the coming years.

An energy storage news roundup from Germany, including 10MWh-plus projects from Tesvolt and Wirsol Roof Solutions and a €5 million fundraise by second life firm Voltfang.

Framework agreement signed between developer Vena Energy and suppliers to a cross-border clean energy ‘hybrid megaproject’ in Indonesia.