Since the Inflation Reduction Act, US$270 billion of US clean energy investment has been announced while downstream projects in development have hit 185GW – 80% and 92% higher than four months ago.
Energy Vault and Kore Power have announced a master supply agreement (MSA) which will see Kore supply 1.3GWh of US-made batteries in 2025, potentially rising to 7GWh by 2027.
A US$12 million Series B2 has been raised by California-based battery analytics firm Peaxy, which specialises in “first mile data challenges”, a spokesperson told Energy-Storage.news.
Lithium-ion battery and energy storage system (ESS) manufacturer Microvast has announced plans to set up an ESS manufacturing plant in Colorado, US, which will be operational this year.
Metals group BASF has begun commissioning on what it claimed is the first combined battery cathode materials production and recycling plant, in Germany.
Rondo Energy, which counts Bill Gates’ Breakthrough Energy Ventures among its investors, intends to scale up annual production capacity of its thermal storage tech to 90GWh.
The Investment Management Corporation of Ontario (IMCO) has bought convertible notes worth US$400 million in European lithium-ion gigafactory firm Northvolt.
Vertically integrated US energy storage company Kore Power has received a conditional commitment from the US Department of Energy (DOE) for a $850 million loan for its Arizona gigafactory.
The US now has a larger pipeline of lithium-ion manufacturing projects than Europe, according to Clean Energy Associates (CEA) and Benchmark Mineral Intelligence.
