Since the Inflation Reduction Act, US$270 billion of US clean energy investment has been announced while downstream projects in development have hit 185GW – 80% and 92% higher than four months ago.

Energy Vault and Kore Power have announced a master supply agreement (MSA) which will see Kore supply 1.3GWh of US-made batteries in 2025, potentially rising to 7GWh by 2027.

US power marketer Gridmatic has launched a US$50 million fund it will put towards managing third-party battery storage assets, including covering collateral requirements, it told Energy-Storage.news.

Developers SMT Energy and SUSI Partners have secured a tax equity financing agreement for 100MW of ERCOT, Texas battery storage projects with ‘specialised tax equity’ investor Greenprint Capital.

A large offshore wind project proposal in New Jersey, US, by Leading Light Wind includes an option to include a 253MW battery energy storage system (BESS).

Energy storage system and services firm Stem Inc grew revenues to US$93 million in the second quarter of 2023, and reduced its EBITDA loss by 15% to US$8.5 milllion.

Mobile energy storage firm Nomad has won a US$9.5 million DOE grant to deploy its product in rural communities in Vermont, US.

Zinc battery firm Eos Energy Enterprises has responded to a short seller note which saw its share price nearly halve on Thursday last week.

US developer Broad Reach Power has closed US$435 million in financing to start construction on 880MW of battery storage projects in the CAISO and ERCOT markets, for 2023/24 commissioning.

Independent power producer (IPP) Clearway Energy has closed US$421 million in financing for the 147MW/588MWh four-hour Rosamund Central Battery Energy Storage System (BESS) in Kern County, California.