Results for: Energy Storage

Peak Energy, a U.S.-based company developing low-cost, giga-scale energy storage technology, has appointed Liam O’Connor as Chief Operating Officer and Co-Founder. O’Connor joins the founding team as Peak Energy scales the first U.S. venture to advance proven sodium-ion battery technology to accelerate grid decarbonization and drastically reduce the cost of energy storage. The rise in AI is putting massive pressure on the grid – the energy needed to power AI tasks is accelerating with no end in sight. The world needs a reliable storage solution to support this growth in a sustainable way. Sodium-ion is the optimal solution for grid-scale storage, offering a safer, more cost-effective way to power the future of AI. With a clear opportunity to make sodium-ion a new clean storage standard, Peak Energy launched last year to industrialize sodium-ion battery systems and establish the U.S. as a global leader in the sodium-ion market. “Affordable and reliable energy storage is the key to unlocking the full potential of renewables, and sodium-ion is the proven, abundant, low-cost battery chemistry to make that a reality,” said Landon Mossburg, co-founder and CEO of Peak Energy. “Liam’s deep expertise in global operations and supply chain will be invaluable as we rapidly scale and begin deploying our sodium-ion systems next year.” As a member of Peak Energy’s founding team, O’Connor reunites with ex-Tesla colleague Mossburg and battery industry veteran, Cameron Patterson, President and Chief Commercial Officer, alongside a broader team with a track record of scaling some of the most iconic companies in energy, mobility, and batteries, including Tesla, Northvolt and Enovix. He brings two decades of operational leadership experience at some of the most successful technology companies in the world, including Tesla, Apple, and Lyft. O’Connor most recently was COO of Zipline, the world’s largest autonomous drone delivery service. At Zipline he oversaw global operations and scaling in eight countries and led core functions including manufacturing, supply chain, and quality. Before that he led Tesla’s global supply chain team and industrialization engineering, and before that managed the worldwide custom semiconductor and sensor supply chain at Apple. “Environmental, geopolitical, and market pressures are all pointing toward an urgent need for a reliable, stable and domestic solution to clean energy storage,” said O’Connor. “I’ve known this team for years, and we have the deep industry knowledge, technical expertise, and the conviction to make the U.S. the leader in sodium-ion battery technology. I’m looking forward to working with Landon, Cameron and the rest of the team to bring this vision to life at scale.” The addition of O’Connor comes on the heels of Peak Energy’s launch from stealth last year with a seed round led by Eclipse and the battery and energy leaders at TDK Ventures. Next year, Peak Energy will begin deploying its sodium-ion systems, while also establishing the first domestic giga-scale battery factory for sodium-ion, with plans to open in 2026.

Sungrow, a leading provider of PV inverters and energy storage systems, has partnered with Larsen & Toubro to supply 165MW of PV inverters and 160MW/760MWh of energy storage systems for AMAALA, an exclusive destination in Saudi Arabia. This partnership aligns with Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative, driving sustainable energy development. AMAALA aims to be the world’s second-largest off-grid energy storage facility, providing continuous, zero-emission green power. It will not only contribute to Saudi Arabia’s carbon neutrality goals but also stimulate the local economy.

The global thermal energy storage market is expected to grow from 2024-2028, with a CAGR of almost 9.61%. This growth is due to the increasing demand for renewable electricity capacity, investments in renewables, and the need to meet Paris Climate targets. Thermal energy storage systems play a crucial role in the renewable energy sector, particularly in addressing the intermittency challenges of solar and wind power. These systems enable the conversion of excess renewable energy into heat, which can be later used for power generation during peak demand or supply chain disruptions.

The global sodium ion battery market is projected to experience significant growth, with a CAGR of 17.33% during the forecast period. Sodium ion batteries offer advantages such as high energy density, nonflammability, and potential for lower production costs compared to lithium-ion batteries. The energy storage segment, including electric vehicles and energy efficiency applications, is expected to drive market growth. Additionally, sodium ion batteries have potential applications in energy storage services, LED flashlights, and second-life applications. However, challenges such as supply disruptions and higher R&D costs remain.

A groundbreaking advance in sodium-ion battery technology has been unveiled by researchers at the Korea Advanced Institute of Science and Technology (KAIST). By incorporating materials used in supercapacitors into the cathode, the research team has developed a hybrid sodium battery with exceptional energy density, power output, and rapid charging capabilities.

Sodium-ion batteries offer significant advantages over traditional lithium-ion batteries due to the abundance, affordability, and enhanced safety of sodium. However, their limited storage capacity and prolonged charging times have hindered their widespread adoption. The KAIST team’s innovation addresses these challenges by utilizing advanced electrode materials and an optimized electrode synthesis method, resulting in a battery that outperforms commercial lithium-ion batteries in energy density and achieves capacitor-like output characteristics.

The rapid charging capability of the hybrid sodium battery, ranging from seconds to minutes, has the potential to revolutionize the use of electronic devices and electric vehicles. It paves the way for devices that can be fully charged in a matter of minutes, enhancing convenience and reducing downtime. Furthermore, the cost-effectiveness of sodium materials could enable automakers to lower production expenses while offering EVs with reduced charging times.

The promising findings of the KAIST team have been published in the renowned journal Science Direct, highlighting the potential of this breakthrough to advance energy storage technologies and pave the way for transformative applications in various industries.

Researchers from the Korea Advanced Institute of Science and Technology (KAIST) have made a groundbreaking discovery in the field of energy storage, unlocking the potential of sodium-ion batteries to revolutionize portable power. By combining the advantages of lithium-ion batteries with the abundance and affordability of sodium, they have developed a hybrid battery with exceptional performance characteristics.

CleanTech Strategies (CTS), in partnership with the Flow Battery Industry Group (FBIG) and research institutions, has been selected by the U.S. Department of Energy (DOE) to advance flow battery technologies for long duration energy storage (LDES). The project aims to accelerate the maturation of flow batteries into cost-effective and reliable solutions, meeting the needs of the U.S. grid. CTS will collaborate with experts from FBIG, BCI, and leading research institutions, conducting applied R&D in key areas such as system and component lifetime testing, supply chain development, and technoeconomic analysis.

The U.S. Department of Energy (DOE) has awarded CleanTech Strategies (CTS) a $5 million grant to support collaborative research and development on flow batteries, a promising technology for long duration energy storage. CTS will partner with industry experts, flow battery companies, and research institutions to advance flow battery maturation and cost-effectiveness, aligning with DOE’s energy storage goals.

The Hydro-pumped Storage Plants market is expected to grow significantly due to the increasing demand for electrical energy and the need for grid support from intermittent renewables. Hydro-pumped storage, which includes pump back plants and conventional hydroelectric dams, plays a crucial role in balancing energy supply and demand by storing excess electrical energy during off-peak hours and releasing it during peak demand. These systems are essential baseload sources, providing power quality and grid stability.

Venture capitalist Sam Altman and Andreessen Horowitz are investing $20 million in Exowatt, a company developing solar-powered modules that can store energy for up to 24 hours. The move underscores the growing need for low-carbon energy sources to support the surge in AI data centers and the electrification of the economy.