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Amazon leads US silicon solid-state battery maker’s $80 million fundraise
Blue Current, which has a pilot production line in Hayward, California, will use the funding to advance commercialization of its silicon solid-state battery technology for stationary storage and mobility applications.
15 hours ago
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Spanish storage: Iberdrola details its winning storage projects totalling $198M, local battery maker expands manufacturing
The innovation energy storage project auction is seeing positive outcomes for Spain with a series of projects announced, and a domestic battery manufacturer rapidly expanding its output.
Funding for European energy storage startups reaches €2.14 billion
European energy storage hardware startups have raised over €2.14 billion in total equity funding, covering commercial, industrial, and grid-scale applications. According to new research from Avnet Silica, 46.7% of that funding was secured in the past three years, while 84.4% has been raised in the last five, highlighting a rapid acceleration in investment across the sector.
India’s Oriana Power explores compact pumped storage for C&I customers, raises BESS target to 20 GWh by 2030
Oriana Power is expanding its focus beyond battery energy storage to compact pumped-storage solutions – a new generation of systems that the company believes could redefine the future of commercial and industrial (C&I) energy management.
Modo Energy raises $33M and sets out AI ambitions
Venture capital firm Molten Ventures leads investment in global battery energy storage benchmarking business Modo Energy. Founded in the United Kingdom in 2019, Modo Energy has expanded to cover continental European markets, Australia and the United States.
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U.S. government releases IRA’s prevailing wage and apprenticeship requirements
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final rules on the Inflation Reduction Act’s (IRA) prevailing wage and registered apprenticeship requirements. Developers of clean energy projects may be able to claim an increased credit equal to five times the base incentive.
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Arizona’s largest energy storage project closes $513 million in financing
In the USA, the 1,200 MWh Papago Storage project will dispatch enough power to serve 244,000 homes for four hours a day with the e-Storage SolBank high-cycle lithium-ferro-phosphate battery energy storage solution. Recurrent Energy, a subsidiary of Canadian Solar Inc. has secured $513 million in project financing for its Papago Storage project located in Maricopa County, Arizona.
New York offers $5 million for long-duration storage projects
The funding will advance the development and demonstration of scalable innovative long duration energy storage (LDES) solutions and be available via a competitive solicitation run by the New York State Energy Research and Development Authority (NYSERDA).
TWAICE, NARDAC team to improve insurance terms with battery storage analytics
German battery analytics technology provider TWICE and NARDAC, UK-based insurance broker focused on large energy and infrastructure assets, have partnered to enable improved insurance coverage for battery energy storage system (BESS) asset owners, investors, and lenders.
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Gresham House, Octopus sign two-year, fixed-price BESS deal
One of the United Kingdom’s largest battery storage investors has signed fixed price contracts for roughly half of its portfolio in a landmark deal for the British market. Battery storage market intelligence firm Modo Energy estimates the tolling arrangement to be worth GBP 56,000 ($71,584) per MW per year.
LG Energy Solution offers funding to battery startups
South Korean battery manufacturer LG Energy Solution is on the lookout for potential candidates for its 2024 Battery Challenge accelerator. The competition will award a maximum of 10 global companies with a $30,000 cash prize each, as well as an opportunity to develop their proof-of-concept.
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