Norwegian renewable energy investor Magnora and the Alberta Investment Management Corporation have moved into the UK battery storage market.

State-owned Estonian energy company Eesti Energia is planning to build a 225MW pumped hydro energy storage facility, as part of a wider push to become independent of Russian energy.

SPAC Mustang Energy PLC is increasing its effective stake in CellCube to around 25% while a company launching a vanadium mine project in Australia has injected US$3.5 million in a new flow battery maker.

Largo Clean Energy, part of vanadium primary producer Largo Resources, and Ansaldo Green Tech are exploring the potential of a joint venture for deploying vanadium flow batteries.

When partnered with artificial intelligence (AI), the next generation of battery energy storage systems (BESS) will give rise to radical new opportunities.

Neoen saw its energy storage revenues triple in the first half of this year, driven by its Victorian Big Battery in Australia.

Conrad Energy has launched construction of a 6MW/12MWh battery energy storage system in Somerset, UK, after local opposition thwarted original plans for a new gas generator.

Nidec ASI, the Italy-based industrial solutions division of Japanese conglomerate Nidec Group, will provide EPC services for a 50MW battery energy storage system (BESS) project in Northern Ireland.

Research firm Wood Mackenzie has downgraded its forecasts for US demand for energy storage in 2022 and 2023 by around one-third, in its most recent global outlook report.

Gore Street saw its net income increase by 191% over the year to 31 March 2022, whilst the EBITDA of its operational portfolio surged 704%.