The amount of corporate funding coming into the global battery storage industry in 2020 was more than double the amount the previous year, with over US$6.5 billion raised last year compared to around US$2.8 billion in 2019.
Tesla CEO Elon Musk and fellow executives talked up the potential for Tesla Energy to reach “roughly the same size” as the company’s automotive business in an earnings call with analysts held yesterday.
NEC’s Energy Solutions division, which has been responsible for NEC Corporation’s activities in the battery energy storage industry, is “going out of business” according to a report by Bloomberg.
RedT has confirmed that Avalon chief executive Larry Zulch will lead the combined entity should its proposed merger complete, with Scott McGregor set to depart at the end of the year.
A new poll has identified energy storage as the most promising technology for institutional investors keen on renewable assets, amid plans by many to ramp up allocations.
Tesla will acquire Maxwell Technologies, it was announced this week, although it is not clear yet which of Maxwell’s product lines, including ultracapacitors, are of most interest to the Silicon Valley automaker and new energy company.
Oregon-based utility company Portland General Electric intends to spend between US$50 million to100 million on around 39MW of energy storage, company executives have revealed.
