The government of Spain is launching €160 million (US$170 million) in grants for energy storage projects, aiming to fund 600MW of projects to go online in 2026.
The US Department of Energy (DOE) has cancelled a US$200 million grant application from lithium-ion battery firm Microvast, which rejected any links to the Chinese government.
Utility Xcel Energy has received a US$20 million grant commitment from VC firm Breakthrough Energy for projects using Form Energy’s iron-air battery, while a sodium ion battery firm has secured bridge financing.
The UK Department for Energy Security and Net Zero (DESNZ) is providing £30 million (US$37.5 million) in grants for long-duration energy storage (LDES) projects from Synchrostor, Invinity Energy Systems and Cheesecake Energy.
The European Commission has approved a €103 million (US$125 million) package of direct grants from the government in Romania for battery storage projects.
Finland telecommunications firm Elisa has received €3.9 million from the government to form a VPP using batteries which could be the largest of its kind in Europe.