More than AU$1 billion (US$0.65 billion) of financial commitments to large-scale battery energy storage system (BESS) projects were made in Australia in the second quarter of this year.

ACCURE has raised €7.2 million for its analytics solutions that can enable a “proactive approach to safety” in the battery storage industry.  

Since the Inflation Reduction Act, US$270 billion of US clean energy investment has been announced while downstream projects in development have hit 185GW – 80% and 92% higher than four months ago.

Second life energy storage firm Stabl has raised €15 million, while its CEO told Energy-Storage.news the second life market will “struggle with the deteriorating performance of their systems in the coming years”.

Japanese conglomerate Marubeni has acquired a 25MW wind and energy storage project in Wales, UK, from developer RES.

Germany-based flow battery company VoltStorage has been granted a venture debt loan of €30 million (US$33 million) by the European Investment Bank (EIB), guaranteed by the European Commission.

Drax Group has secured development consent for a 600MW underground pumped storage hydro (PSH) plant in Scotland, UK.

Pre-construction activities commenced this week on Rangebank BESS, a 200MW/400MWh project in Victoria, Australia.

NHOA Energy’s EBITDA for H1 2023 dropped by 38.8% year-on-year to €1.11 million (US$1.23 million) but the company expected the EBITDA for 2023 to reach up to €10 million.

The US Department of Energy will commit US$30 million in new awards and funding opportunities for energy storage solutions.