Invinity Energy Systems, supplier of a grid-scale vanadium flow battery being installed at a site in the UK will rent the battery’s electrolyte out to the investor developing the project, thereby helping lower the upfront cost of getting the system deployed.
When lithium-ion’s dominance of the energy storage market begins to wane, redox flow batteries are well positioned as a strong competitor, emerging technology market research and business intelligence group IDTechEx has said.
Multinational chemicals company BASF has furthered its interest in the energy storage industry, partnering on the development of ‘metal-free’ flow battery electrolytes with German startup JenaBatteries.
Defense and aerospace giant Lockheed Martin wants to be the first disruptive company of the flow battery era, with the expectation that its first devices will go into series production before the end of this year.
Flow battery maker Avalon has initiated a novel business model aimed at lowering the cost of deployment of its energy storage units, effectively ‘renting’ the electrolytes in the devices to a customer in California.
With a view to creating a mass market design for vanadium flow batteries, Australia’s Protean Energy will deploy a 4MWh battery energy storage project in South Korea that will be researched over eight years of operation.
One of Germany’s largest utilities wants to build what it says could be the biggest ‘battery’ in the world to date – using underground caverns filled with saltwater as a giant redox flow energy storage system.