Solar Media analyst Charlotte Gisbourne assesses the outlook for the major listed non-lithium battery energy storage technology companies.

Ampyr Australia has secured a 15-year battery storage agreement with InCommodities for the 600MWh Bulabul BESS in New South Wales.

Developer Akaysha Energy has confirmed that the 850MW Waratah Super Battery will undergo a planned balance of plant shutdown from 20 November to 2 December 2025.

Australia’s AGL Energy has agreed to divest 19.9% of its equity interest in Tilt Renewables to Queensland Investment Corporation (QIC) and a Future Fund-led consortium for AU$750 million (US$488 million).

Peregrine Energy Solutions has secured US$130 million from investors including the South Korean Ministry of Environment.

A trio of energy storage startups: XL Batteries, Unbound Potential and Fourth Power, have raised financing for emerging flow battery and thermal storage technologies.

The Queensland government has invested AU$48 million to overhaul the ageing 5.7GWh Wivenhoe Pumped Hydro Power Station in Australia.

Several Chinese companies active in the energy storage space have recently released their financial reports for H1 2025, with the majority posting strong growth. Their energy storage business segments have been a key driver of that growth.

Chang Jae Won of the Korea Smart Grid Association believes companies lack a model for recovering their investment in DC energy storage.

Hydrostor has secured US$55 million in funding from Export Development Canada (EDC) to advance development activities for its 200MW/1,600MWh Silver City Energy Storage Centre project in Broken Hill, New South Wales, Australia.