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.
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
Powervault, a UK energy storage company which makes home energy storage devices that are suitable for both lead and lithium batteries, announced this week that it was preparing to increase its production of units 50-fold by 2020. Managing director Joe Warren told BESB that the device was compatible with all kinds of battery chemistry read more
Zinc bromine flow battery producer Primus Power has launched its second-generation battery, the EnergyPod 2, the US firm announced on February 21. Paul Ferrera, a business development official at Primus Power, said the new model was being tested by corporates including Microsoft and utilities such as Samruk Energy in Kazakhstan. “The EnergyPod represents a read more