Australia’s strong and ongoing potential for energy storage paired with solar PV has seen international and domestically-headquartered companies race to gain market share.

KORE Lithium Technologies Inc (KORE Power), a US headquartered manufacturer of nickel manganese cobalt (NMC) battery racks for the utility-scale stationary energy storage market, has retained renewable energy investor CohnReznick Capital as its Investment Bank of Record.

While lithium-ion enjoys the most media and customer interest at the moment, alternative technologies for storing energy could become competitive – if investors are willing to take them on to the extent that manufacturing efforts can be greatly scaled up.

Idaho-headquartered KORE Power claims it will have 6GWh annual production capacity for its lithium battery energy storage solutions, based on high-power nickel manganese cobalt (NMC) cells, up and running during the first quarter of next year.

Eguana Technologies has signed a deal with contract manufacturer Jabil for the production of residential and commercial energy storage systems.

Enabling batteries to be repaired, upgraded and reused when no longer suitable for their first life will have social as well as environmental benefits, Amrit Chandan, CEO of Aceleron, argues.

The Central Indian state wants storage services to help cater for an extra 2.7 million customers brought online by electrification schemes as well as increasing penetration of renewable energy on the grid.

As it prepares to break ground on a ‘Gigafactory’, energy storage system provider Tesvolt has said that gaining certification across diverse regions remains the biggest challenge in forming strategy today.

Thanks to “innovative business models” and the combination of PV with batteries, Japan’s “solar boom” is far from over, market expert Izumi Kaizuka of RTS PV has said.

Schmid and Saudi companies are also planning a gigawatt-scale manufacturing facility for Vanadium Redox Flow Batteries.