Convergent Energy + Power, a US-Canadian project developer which has attracted investment from the venture capital arm of Statoil, has acquired 40MW of flywheel energy storage already in operation in grid-balancing markets in New York State and Pennsylvania.

Developer Convergent Energy & Power has installed a commercial and industrial (C&I) energy storage system in Ontario for an injection-moulded plastics company, sized with 8.5MWh of batteries.