Special purpose acquisition company (SPAC) Novus Capital Corporation II chose to merge with novel gravity and kinetic energy-based storage Energy Vault after receiving target proposals from more than 100 different firms.
Virtual power plant (VPP) company Swell Energy and battery storage provider sonnen have both announced deals that will turn thousands of residential solar-powered energy storage systems into valuable resources for their local grid network.
AutoGrid has raised US$83.5 million in funding to scale up its virtual power plant (VPP) platform for distributed energy resources (DER) and Leap has raised US$33.5 million to scale and develop its DER software solution.
Whether connected to a main electricity grid or not, commercial and industrial (C&I) microgrids are increasingly able to offer resilient and independent power supply and — perhaps more importantly — electricity cost reductions.
A new joint venture (JV) is evaluating building battery cell gigafactories in the US, based on advanced lithium-ion technologies, formed by investor Koch Strategic Platforms and manufacturer FREYR Battery.