Energy Vault secured 2.8GWh of project orders in the first quarter of 2023 and revealed that it has invested in Kore Power, the US lithium-ion battery and BESS firm, though booked revenues fell 75%.
Gravitricity has partnered with firms in the US and Germany to deploy its gravity energy storage solution while Energy Vault has provided an update on its China project.
Gravity-based energy storage company Energy Vault expects US$680 million in combined revenue over 2022 and 2023, it claimed in its recent quarterly results.
While lithium-ion batteries get most of the headlines, long-duration solutions of various types are gaining ground. Alice Grundy and Andy Colthorpe profile some of the established and emerging concepts in this increasingly important field.
India is looking at gravity-based energy storage to take advantage of the technology’s short response times and flexibility when it comes to grid integration of clean energy sources.
