EU body EIT InnoEnergy has launched a new platform for owning and operating energy storage assets across Europe, called Repono, targeting a 10% market share of an expected 1TWh market by 2030.
The increasing cost-competitiveness of LFP battery cells has made first life batteries more attractive than second life ones, Finland-based BESS solutions firm Cactos told Energy-Storage.news after a €26 million (US$28.5 million) fundraise.
California-based Element Energy has raised US$111 million of equity and debt for its proprietary battery management system (BMS) for first and second life battery storage.
Second life energy storage firm B2U has put its second major project into commercial operation, a 3MW/12MWh system made up of Honda Clarity EV batteries.
Canada-based firm Moment Energy has secured UL 1974 certification for second life energy storage production, the first in North America to do so, the company said.
The US Department of Energy (DOE) has shortlisted the projects to receive US$325 million for long-duration energy storage (LDES), with technology providers including Energy Dome, Invinity, Form Energy and Redflow.
Volvo Energy, part of the automotive and engineering company Volvo Group, and UK-based second life BESS firm Connected Energy have signed a letter of intent to jointly develop a BESS solution.
New regulations governing the production, sale and use of batteries in the European Union (EU) came into force last month, with energy storage industry associations welcoming their introduction.
Automotive OEM Jaguar Land Rover and Wykes Engineering have deployed a 2.5MWh second life battery energy storage system (BESS) using EV batteries, and aims to expand it to 7.5MWh by the end of 2023.
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”.
