The EU’s European Investment Bank has pledged support for a long-duration thermal energy storage project and a gravity-based energy storage demonstration project.
A “novel and innovative” technology which uses CO2 as a medium to store energy could be made using off-the-shelf equipment and made available to the market as early as next year, the company behind it has said.
Sunamp, a Scotland-headquartered manufacturer of a thermal energy storage technology, has just signed an agreement with a distributor to target nearly US$70 million of sales in China and open a factory in the Asian country.
Gravity and kinetic energy storage startup Energy Vault and ‘thermal pumped hydro’ startup Malta Inc have both said this week that their technologies could be set for gigawatt-hour scale deployments.
A Tesla battery energy storage system (BESS) pilot project has gone into service at what is currently the world’s biggest single-site solar PV plant, Mohammed bin Rashid Al Maktoum Solar Park.
Energy Vault has become the latest startup with a novel, non-lithium battery energy storage technology to attract significant investment, raising US$100 million through a Series C funding round.
Companies in the battery storage industry raised US$9.6 billion in corporate funding during H1 2021, with European manufacturing startup Northvolt once again the biggest single recipient of venture capital (VC) investment.
