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.

The Ministry of Energy in Hungary will provide grants for the deployment of energy storage projects, with some 1GWh targeted by 2025.

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 Asian Development Bank is providing financing to Tata Power Delhi Distribution Limited towards a 10MWh pilot project in Delhi, India.

The European Commission has approved a €103 million (US$125 million) package of direct grants from the government in Romania for battery storage projects.

West Virginia governor Jim Justice has signed off on a US$105 million grant to Form Energy for its iron-air battery plant in the state in a ceremony.

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.