Redwood Materials will get a US$2 billion loan from the DOE’s Loan Programs Office (LPO) for its closed-loop lithium-ion anode and cathode material production plant in Nevada, US.

Sumitomo Electric will step up its VRFB business in the US, with plans to invest in local production and installation capabilities.

Testing has started on four battery storage projects in Lithuania totalling 200MW/200MWh provided by system integrator Fluence, with a view to turning the projects online in a few months.

Global battery storage system integrator Fluence grew revenues 78% and doubled its gross profit margin in October-December 2022, its first financial quarter under the helm of new CEO Julian Nebreda.

Developers Fotowatio Renewable Ventures and oEnergy have moved forward with environmental impact assessments (EIA) for two PV co-located battery storage projects in Chile, one of which is an eight-hour lithium-ion system.

Developers Taaleri Energia and Merus Power have partnered to deploy a 30MW/36MWh battery energy storage system in Finland, one of the country’s largest.

Proposed changes to rules and regulations will strengthen the Philippines’ position as leading energy storage market in the ASEAN region.

Hecate Grid, an independent power producer (IPP) developing utility-scale battery storage assets, has raised US$98.9 million through lenders.

Portugal-based utility EDP has received clearance to deploy a 1MWh vanadium redox flow battery (VRFB) system as part of a hybrid energy storage project at the site of a retiring gas plant in Asturias, Spain.

US Senator Joe Manchin and fellow bipartisan colleagues have urged the Biden Administration to invest more in non-lithium energy storage technologies, while DOE Loan Programs Office head Jigar Shah expects companies developing the latter to broadly secure 1GWh orders this year.