RayGen, a startup developing long-duration energy storage (LDES) technology designed for pairing with renewable energy installations, has raised investment to kick off a Series D funding round.
A 1,200 hectare site in South Australia has been secured by a developer hoping to use it to build a 300MW solar power site with 3.6GWh of energy storage, based on a novel technology solution.
Construction is set to begin in Australia on a grid-scale power generation and long-duration energy storage project combining solar power and thermal energy storage, after the company behind the project said this morning that funding has been secured.
“The elimination of solar energy’s intermittency and ensuring its 24-hour availability at grid-competitive cost is the holy grail and RayGen has found it”.
SaltX Technology and CSP and integrated energy systems provider Aalborg CSP have signed off on a non-exclusive joint development agreement to develop and commercialise an integrated energy storage solution for Concentrated Solar Power.