Convergent Energy + Power, a US-Canadian project developer which has attracted investment from the venture capital arm of Statoil, has acquired 40MW of flywheel energy storage already in operation in grid-balancing markets in New York State and Pennsylvania.

France-headquartered mega-utility EDF has accepted delivery and installation of a flywheel energy storage system manufactured by Germany’s Stornetic, at EDF’s “full testing playground” south of Paris.