March 31, 2022: The UK government has awarded a grant to Subsea 7 and technology partner FLASC to develop its PowerBundle offshore energy storage system, the companies announced on February 24.
Subsea 7 said the project had secured a grant of nearly £472,000 ($630,000) from the Department for Business, Energy and Industrial Strategy, to prepare the technology for potential future use as part of the UK’s energy system.
The funding was awarded as part of a longer duration energy storage competition, designed to support moves to increasing wind generated renewable energy.
The PowerBundle concept will combine FLASC’s proprietary Hydro-Pneumatic Energy Storage technology and Subsea 7’s subsea ‘pipeline bundle technology’.
FLASC said its HPES technology combines pressurized seawater with compressed air to create an efficient, large-scale energy storage device.
Daniel Buhagiar, co-founder and CEO of FLASC, said: “Beyond the financial support, this also confirms our view that offshore energy storage technologies have a key place in the energy transition, working alongside onshore solutions towards a cleaner and more robust energy system.”