Long-duration energy storage with renewable energy could reduce the emissions from industrial energy use by almost two-thirds, a new report has said.

Lessons will be learned from an overheating incident at a thermal energy storage demonstration unit to which fire crews were called, the company behind the technology has said.

Kraftblock, a thermal energy storage startup based in Germany, and Australia’s MGA Thermal have secured funding to accelerate their technologies’ scale-up and commercialisation.

Rondo Energy, which counts Bill Gates’ Breakthrough Energy Ventures among its investors, intends to scale up annual production capacity of its thermal storage tech to 90GWh.

An investment worth €110 million (US$131.5 million) has been agreed by ‘thermal battery’ manufacturer EnergyNest which would make infrastructure equity investor Infracapital its biggest shareholder.