Energy storage technology firms Eos and Energy Vault have both released their Q2 results, with contrasting figures but both still having a long way to go to scale up and reach profitability.
A disused paper mill in Maine, US, will host a ‘multi-day’ battery storage system as part of a major project to reinforce and upgrade the electricity grid in New England.
Delays in product development, high commodity prices and investors pulling out were behind some of the most recent bankruptcies in the ESS battery technology space, which include Nilar, AMTE and Ambri.
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While contractual parties are rarely ironing out end-of-life provisions for BESS, those that do are keeping their options open with the future value of degraded batteries far from clear, a UK-based lawyer said.
System integrator Fluence Energy and investor Excelsior Energy Capital have entered into a supply agreement for 2.2GWh of BESS, which Fluence claims will utilise US-manufactured battery cells and modules.
The Spanish Ministry of Ecological Transition (MITECO) has published the regulatory basis for the €750 million (US$812 million) incentive scheme for renewables and energy storage manufacturing.
LG Energy Solution saw its revenues fall 30% in the second quarter of the year amidst a global EV market slowdown, and the company says its ESS segment could help offset this.
The benefits of advances in cell technology, which improve the performance and lifetime of battery storage systems, can be directly passed onto customers.
