Saudi Arabian oil firm Aramco has entered into a memorandum of understanding (MOU) with Rondo Energy, a thermal energy storage company, following an equity investment.

Battery storage project development costs will continue to fall in 2024 as lithium costs decline “significantly,” according to BMI Research.

Global battery energy storage system (BESS) integrator Fluence saw an 11% revenue drop in revenues in the three months ending 31 March, 2024, while it is also launching a higher energy density product and US module production this year.

Iron flow battery company ESS Inc will provide Nigeria-based IPP Sapele Power 1MW/8MWh of its systems, it announced while also revealing its first quarter financials.

Zambian developer GEI Power and Turkish energy technology firm YEO are aiming to have a 60MWp PV, 20MWh BESS project in Zambia online by September 2025.

G7 nations have agreed a new global energy storage target of 1500GW by 2030, a six-fold increase from today’s levels.

China-based companies Sungrow and Eve Energy are seeing substantial growth in their energy storage product shipments.

According to IEA and BloombergNEF, battery storage was the most invested-in energy tech, with biggest-ever growth in deployments recorded.

LG Energy Solution has said it will take a strong stance against those copying its technology following what it says is a surge in battery patent infringements, including in the ESS market.

Lithium-ion battery OEM CATL’s claim that its latest BESS product has no degradation for the first five years of use has provoked much discussion across the industry, with some sceptical of its merits.