Since the Inflation Reduction Act, US$270 billion of US clean energy investment has been announced while downstream projects in development have hit 185GW – 80% and 92% higher than four months ago.
Kraftblock, a thermal energy storage startup based in Germany, and Australia’s MGA Thermal have secured funding to accelerate their technologies’ scale-up and commercialisation.
Energy Vault and Kore Power have announced a master supply agreement (MSA) which will see Kore supply 1.3GWh of US-made batteries in 2025, potentially rising to 7GWh by 2027.
Microvast is receiving more purchase orders from the US energy storage market than it can produce, the battery cell, pack and energy storage system manufacturer has said.
The lithium industry needs US$116 billion of investment to achieve the 5.7x ramp-up in production needed for 2030 decarbonisation goals, and prices may remain ‘tight’ in the coming years.
More news in brief from around the world in energy storage, featuring vanadium redox flow batteries (VRFBs), bankruptcy for a thermal storage startup and a new integrated lithium tech.
