Strabag enters ESS market with $107m boost for organic flow battery firm CMBlu

Strabag enters ESS market with $107m boost for organic flow battery firm CMBlu

Strabag enters ESS market with $107m boost for organic flow battery firm CMBlu 1000 667 Energy Storage Journal

October 26, 2023: Austrian construction technology group Strabag is entering the energy storage market with a near $107 million investment in CMBlu Energy, an organic flow battery firm, the companies announced yesterday.

CMBlu founder Peter Geigle said the $106.7 equity deal validates the firm’s long duration energy storage technology and will enable it to expand production capacity in Europe and set up a manufacturing facility in the US.

CMBlu said it is already working on multiple pilot projects in Europe and the US to demonstrate its technology.

In addition to developing several BESS sites in Europe, CMBlu is working on projects in the US including a 5MW 10-hour duration pilot project called Desert Blume in Arizona. CMBlu will build, own, and operate the batteries on behalf of non-profit utility Salt River Project.

Desert Blume will store solar energy and feed it back into the grid at night. The BESS will store enough energy to power about 1,125 average homes for 10 hours, according to CMBlu.

MBlu has a workforce of more than 190 across Germany and the US and claims to be a pioneer in developing a battery that combines the technologies of redox flow and solid-state batteries.

Strabag CEO Klemens Haselsteiner said: “to reach one of the most important goals in our company’s history — becoming climate-neutral by 2040 — we want to become a full-range supplier of energy services for our projects.”

The companies plan to deliver large ESS projects faster, easier and more efficiently with a standardized construction design, Haselsteiner said.

Pictured: Peter Geigle and Klemens Haselsteiner sign their firms’ strategic partnership agreement. Photo: Sascha Rheker