Europe needs to act now to prevent an outflow of investment from its burgeoning battery manufacturing ecosystem in light of the US’ Inflation Reduction Act, the EU-founded European Battery Alliance (EBA) has said.
California-based firm Element Energy has raised a US$28 million Series B to accelerate its proprietary BMS-enhanced second life energy storage solution, with 2.5GWh of modules secured already.
Berkshire Hathaway-owned NV Energy has been revealed as the ‘large western utility’ that has ordered a 220MW/440MWh battery energy storage system (BESS) from Energy Vault.
AI-driven energy storage firm Stem Inc will deliver 40MW of battery storage projects in ERCOT, Texas, for independent power producer REX, the first of US$400 million the new firm plans to procure.
American Battery Factory, a new firm planning a network of lithium iron phosphate (LFP) battery manufacturing facilities in the US, has chosen a site in Arizona for its first.
Planned lithium-ion battery gigafactory capacity in the US has grown twice as fast as in Europe since the Inflation Reduction Act was passed, Benchmark Minerals Intelligence told Energy-Storage.news.
Norwegian lithium-ion gigafactory firm FREYR has raised over a quarter of a billion dollars and completed the previously-announced JV with Nidec Corporation to develop energy storage solutions.