Malta Inc, developer of a grid-scale electro-thermal energy storage technology, has closed a Series B funding round, raising US$50 million from investors that include Facebook co-founder Dustin Moskovitz.
The sudden and rapid use of Special Purpose Acquisition Companies (SPACs) to launch privately-held companies into publicly-listed entities is a minor phenomenon of our time and some players in clean energy industries including energy storage, have been quick to join the wave. It can work out really well, but it can also all end in tears: so choose wisely, says Charles Lesser, partner at Apricum – The Cleantech Advisory.
Australia’s Clean Energy Finance Corporation (CEFC) has invested AU$160 million (US$127.6 million) in a 300MW battery storage project near Geelong, Victoria.
With the US having rejoined the Paris Accord on the climate crisis last week, President Joe Biden has now signed an Executive Order which identifies the importance of mitigating risks in the supply chain for “large capacity batteries”.
The UK’s move to net zero emissions will require a reinforced distribution network and a varied mix of energy storage technologies to make the most of low-cost renewables generation, a panel has suggested.
Support frameworks which address both green hydrogen supply and demand, as well as cross-border initiatives, will be pivotal to delivering affordable green hydrogen, a panel has concluded.
Although there is growing interest within the energy storage industry around the National Grid’s Dynamic Containment (DC) system, operators who tap into it must be ready to adapt and maintain other revenue streams, a panel of industry experts heard this week.
The energy storage market is poised for strong growth over the next decade and opportunities are likely to emerge for alternatives to lithium-ion that offer longer durations of storage, but three key challenges remain for those technologies.
