Just days after signing the deal with Exide Industries, on February 14 Ecoult secured another boost with a funding pledge from the Australian Renewable Energy Agency, which has pledged A$4.1 million ($3.1 million) to commercialize the UltraBattery technology.
It is not the first time ARENA, the government agency, has lent support to Ecoult. In 2013 it provided the Sydney-based East Penn subsidiary with A$600,000 ($450,000) in the early stages of development of the technology, and this led to the UltraFlex product, a smaller 20 kW hybrid storage device.
“Our support for Ecoult demonstrates how ARENA works across the innovation chain to support research and development and build a vital bridge between commercial adoption and uptake,” said Ivor Frischknecht, the chief executive of ARENA.
“Storage is critical for increasing the reliability of our on-grid and off-grid power systems. It can give customers more control over their energy by storing solar through the day to use during the evening peak.
“This latest funding supports a A$10.6 million effort by Ecoult to improve its technology and pursue large-scale commercialization. It will enhance the battery’s performance and improve its ability to support both grid and offgrid applications.”
ARENA is keen to invest in renewable energy projects, with storage coming under its Emerging Renewables Program, for which it has an A$126 million budget. Just this week it approved a A$450,000 grant to Energy Australia for a potential pumped hydro energy storage project in South Australia.
The cost of electricity in Australia is among the highest in the world, and in the 2016 Residential Electricity Price Trends report, by the Australian Energy Market Commission, average residential bills were predicted to rise by up to A$204 a year by 2018/19.
The three winners this year of the ees AWARD 2017 for the most innovative concepts and solutions from the energy storage industry were Solarwatt, LG Chem and Energy Depot Deutschland. “Each had a distinctive product or approach that made them stand apart from their rivals,” a spokesman for exhibition organizer ees said. “The winners read more
For the record, Tesla’s gigafactory in the US state of Nevada officially began making 2170 lithium-ion battery cells for its Powerwall 2 and Powerpack 2 energy storage systems on January 4, the firm said. The new cell — with dimensions of 21mm by 70mm, hence 2170 — is thicker and taller than the previous read more
Lead battery start-up Gridtential announced on January 12 that four major battery companies — East Penn Manufacturing, Crown Battery Manufacturing, Power-Sonic and Leoch International — had invested a total of $6 million in the company. The four now have a combined equity stake of around a quarter in Gridtential, according to Ray Kubis, chairman read more
In early February, India’s Exide Industries announced an agreement with Ecoult, owned by East Penn, to manufacture UltraBattery for the Asian market. It’s a landmark agreement. BESB spoke to John Wood, Ecoult chief executive, to get the details. John, what sort of production capacity are we looking at? Production of UltraBattery entails a very read more
Just days after signing the deal with Exide Industries, on February 14 Ecoult secured another boost with a funding pledge from the Australian Renewable Energy Agency, which has pledged A$4.1 million ($3.1 million) to commercialize the UltraBattery technology. It is not the first time ARENA, the government agency, has lent support to Ecoult. In read more