In an effort to modernize their energy system and make use of renewable energy sources, the British government has invested £30 million in three innovative energy storage companies. This newfound funding for energy storage technologies is estimated to save billions in energy costs, balance the National Grid and increase energy security in the United Kingdom.
The first company to benefit from the grant is battery maker Invinity Energy Systems, which was awarded £11 million to build the largest grid-scale battery UK has yet to manufacture. The 30MWh system is capable of delivering more than 7MW of power to an approximate number of 3,500 households for a duration of two hours. The energy storage system utilizes vanadium, an inflammable, non-degrading transition metal, instead of lithium. Additionally, the system is 97% recyclable and can work for more than 25 years. Apart from the financial boost, Invinity Energy Systems will also benefit from being able to integrate the battery with the UK’s existing power infrastructure.
The second company to benefit from the grant is SynchroStor, with £9.4 million at its disposal. The company will build a Pumped Thermal Energy Storage (PTES) grid-connected demonstration plant. The plant will have a 1MW capacity and will be able to store energy as heat in a Brayton loop and convert it to electricity whenever needed. SynchroStor claims that the energy storage technology can outperform current battery systems.
Cheesecake Energy, a startup, is also part of the program with £9.4 million allocated to its FlexiTanker storage system. The storage system combines thermal and compressed air technologies to store electricity. The company will install a set of tests systems in Colchester, a new mixed-use development site, as part of a microgrid set up to reduce stress on the local grid. The energy provided by the solar farm, combined with Cheesecake Energy’ storage system will provide district heating for nearby residents and businesses.
The £30 million is just one part of the larger £1 billion Net Zero Innovation portfolio established by the Department of Business, Energy, and Industrial Strategy. Minister for Energy Security Graham Stuart said, “Storing energy for longer periods is vital to build a robust and secure energy system and ensure that renewable energy is used efficiently.” He further adds, “Fortunately, the UK has a wealth of pioneering businesses that are making their mark on this industry.”
Ioanna is a writer at TNW. She covers the full spectrum of the European tech ecosystem, with a particular interest in startups, sustainability, green tech, AI, and EU policy. With a background in the humanities, she has a soft spot for social impact-enabling technologies. Ioanna deeply follows developments in the tech space and enjoys reporting on companies that are looking to make a difference in their industry and the world in general.
