Europe needs to act now to prevent an outflow of investment from its burgeoning battery manufacturing ecosystem in light of the US’ Inflation Reduction Act, the EU-founded European Battery Alliance (EBA) has said.

The US industry deployed more than 5GWh of energy storage in the third quarter of 2022, close to half the entire amount of storage installed in the country in 2021.

Battery storage developer Spearmint Energy has started building a 150MW/300MWh unit in the ERCOT, Texas market, its first project.

Amazon Studios has begun swapping out diesel generators for mobile BESS equipment at sets for its TV and film productions in the US.

Another serving of news in brief from around the world in energy storage.

California-based firm Element Energy has raised a US$28 million Series B to accelerate its proprietary BMS-enhanced second life energy storage solution, with 2.5GWh of modules secured already.

Spain-based renewable energy firm Acciona Energia has acquired a two-hour energy storage system in ERCOT, Texas, from Qcells.

Fluence said the company is on track to grow revenues by almost a third on “multi-year” basis, leading to breakeven EBITDA in 2024.

Berkshire Hathaway-owned NV Energy has been revealed as the ‘large western utility’ that has ordered a 220MW/440MWh battery energy storage system (BESS) from Energy Vault.

Fluence reported its highest quarterly and yearly revenues, forecasting adjusted gross profits of US$60 million to US$100 million for next year.