Iron flow battery company ESS Inc will provide Nigeria-based independent power producer (IPP) Sapele Power 1MW/8MWh of its systems, it announced while also revealing its first quarter financials.
NYSE-listed ESS Inc said its battery energy storage system (BESS) will enable load smoothing, peak demand shifting and enable Sapele’s power station turbine’s to ramp up and down more efficiently.
The deal is the largest BESS export to Africa financed (in part) by the Export-Import Bank of the United States of America, the official export credit agency of the US federal government, and ESS Inc’s first on the continent.
The news comes shortly after ESS Inc commissioned a project at Amsterdam Schipol airport using its 75kW/400kWh capacity Energy Warehouse product (quantity unknown), and was released concurrently with its first quarter 2024 results.
The firm saw US$2.7 million in revenue in the first three months of the year and an adjusted EBITDA loss of US$15.4 million, 28% lower than the same period last year. It finished the period with US$89.6 million in cash and short-term investments, down around 20% from the end of 2023.
Most of its cash comes from a large special purpose acquisition company (SPAC) merger and listing back in 2021. Like most other SPAC listed energy storage firms, its performance since then has not lived up to the expectations set at the time of listing however, as Energy-Storage.news explored in an article last year (Premium access).
Recent results do show the companies including ESS Inc moving towards profitability, however. Increasing the size of firm orders will help on that journey, and in June last year it secured its largest project to-date, a 50MW/500MWh deal with German IPP LEAG. That project is moving into the detailed engineering phase with a target commercial operation date (COD) in 2026, ESS Inc said.
Energy-Storage.news'' publisher Solar Media will host the 1st Energy Storage Summit Australia, on 21-22 May 2024 in Sydney, NSW. Featuring a packed programme of panels, presentations and fireside chats from industry leaders focusing on accelerating the market for energy storage across the country. For more information, go to the website.
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Nigeria''s main peril is its power supply shortage, which has prolongedly hampered industrial and commercial productivity. To address power shortages, temporary power backup devices like inverters are actively used across the country. However, not all users are adequately aware of the functional ability of inverters and associated batteries.
Misconceptions regarding inverter batteries have prevented many users from shifting from traditional generators to inverters. With myths floating around, it becomes difficult to choose and manage the correct inverter battery for your household and commercial sectors.
We at Star Plus Battery can help you evaluate the common myths and realities associated with inverter battery types. Your power loads will vary, but you need to make sure that your inverter batteries are functioning smoothly.
Inverter battery types vary significantly based on size, chemical composition, and functional differences. Here''s what you need to know about different battery types:
Tubular inverter batteries have advanced designs to withstand heavy loads and function in a robust environment. They are designed to sustain deep charge and discharge cycles, which makes them ideal for Nigerian household and commercial sectors.
Tubular Batteries are widely used for high-power backup and will be effective for prolonged power outages in India. Here are some advantages of tubular batteries:
Among the different types of inverter batteries, lead-acid batteries are widely used for their low cost and high functionality. Less sensitive to overcharging makes the lead-acid batteries withstand a wide range of temperatures and sustain a longer lifespan.
Gel batteries are highly versatile and can be used for different purposes to support multiple power needs. As a result, these inverter battery types are ideal options for storage in compact spaces.
Flow inverter batteries are cheaper and more reliable than their lithium-ion counterparts. The demand for renewable energy sources makes flow batteries suitable for households and industrial operations.
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