Peak Power, an Ontario-based C&I-focused energy storage and software firm, has secured a US$200 million financing agreement with Madison Energy Investments (MEI).

Some of the “world’s biggest insurance companies” are investigating the advantages of pairing lithium batteries with ultracapacitors in energy storage systems, which can lower costs and extend battery lifetimes, the CEO of an ultracapacitor maker has said.

Energy storage services provider Peak Power will supply control platforms to 6MWh of energy storage projects in Ontario and New York, some of which will be funded by Sustainable Development Technology Canada (SDTC).

A proposed 500MW pumped hydro energy storage facility in the Philippines will be designed and constructed by Power Construction Corporation of China (POWERCHINA), which will also carry out procurement duties.