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.
A 60MWh battery energy storage project co-located with an existing solar PV plant has been proposed in Spain, the latest to qualify for a recently-announced €150 million package of grants.
A total of US$92 billion has been invested in the US battery supply chain since Biden took office in January 2021, including recent projects announced by ICL and Rhyolite.
New energy storage projects co-located with renewables in Spain will be eligible to have 40-65% of their investment costs covered under a government scheme launching in a week’s time.
CO2 Battery company Energy Dome has won €17.5 million (US$18.5 million) in grant and equity financing from the European Innovation Council, the maximum amount available.
