A 100MWh gravity-based energy storage system developed by Energy Vault is expected to begin construction in China in the second quarter of this year, the Swiss-American startup has claimed.
The EU’s European Investment Bank has pledged support for a long-duration thermal energy storage project and a gravity-based energy storage demonstration project.
Energy Vault has become the latest startup with a novel, non-lithium battery energy storage technology to attract significant investment, raising US$100 million through a Series C funding round.
Long duration energy storage is “essential” to help accelerate renewable deployment, according to the US Department of Energy’s Dr Imre Gyuk, who moderates this panel discussion with Matt Harper from flow battery provider Invinity Energy Systems and Russ Weed from gravity energy storage company ARES.
