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.

Spain-based renewable energy firm Acciona Energia has acquired a two-hour energy storage system in ERCOT, Texas, from Qcells.

Fluence said the company is on track to grow revenues by almost a third on “multi-year” basis, leading to breakeven EBITDA in 2024.

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.

Cost inflation and supply chain issues have forced California utility PG&E to increase the prices it will pay for 2GWh of battery storage projects, in a move which has been approved by regulators.

Energy storage costs in the US grew 13% from Q1 2021 to Q1 2022, said the National Renewable Energy Laboratory (NREL) in a cost benchmarking analysis.