Global energy storage developer Eku Energy has signed a Framework Agreement with Renera Energy, a European consulting, trading and development group. The agreement, signed on 28th June 2023, secures Eku Energy exclusivity over 1GW of battery storage projects in Italy.
As part of the agreement, Eku Energy is already funding projects with a combined capacity in excess of 100MW in the South of Italy, a region with high levels of renewable penetration and an increasingly congested grid.
Italy aims to generate 65% of its electricity from renewable energy sources by 2030, by which time it is predicted to be the third largest energy storage market in Europe.
Eku Energy was initially established by Macquarie''s Green Investment Group and is now jointly owned by a Macquarie Asset Management managed fund and British Columbia Investment Management Corporation (BCI). The company is working across the full project life cycle to develop, build, and manage energy storage assets that facilitate the delivery of safe, secure and reliable clean energy. Its pipeline includes 1.2GWh of battery storage projects in delivery globally.
MILAN (June 8, 2022) – Energy Dome, a leading provider of utility-scale long-duration energy storage, today announced the successful launch of its first CO2 Battery facility in Sardinia, Italy. This milestone marks the final de-risking of the CO2 Battery technology as Energy Dome enters the commercial scaling phase, becoming the first commercial long-duration energy storage technology on the market offering a reliable alternative to fossil fuels for dispatchable baseload power globally.
The initial phase of operations has confirmed the performance of the CO2 Battery and its capability of storing energy for a long duration, all while maintaining highly competitive round-trip efficiency, without degradation or site dependency. The Sardinia demonstration project has proven this innovative process using off-the-shelf equipment available from a globally established supply chain, demonstrating that the rapid global deployment of the CO2 Battery is now possible with no bottlenecks.
"I am proud of our dedicated team and of our results. We can now provide an answer to the most pressing issue of our time: climate change," said Energy Dome Founder and CEO Claudio Spadacini. "Our breakthrough technology, the CO2 Battery, is now commercially available to make cost-effective renewable energy dispatchable on a global scale."
Energy Dome''s CO2 Batteries can be quickly deployed anywhere in the world at less than half the cost of similar-sized lithium-ion battery storage facilities, and use readily available materials, such as carbon dioxide, steel and water. Energy Dome is now preparing for its first full-scale 20MW-200MWh plant. Its first commercial project, Commercial Operation Date, is expected to be deployed by the end of 2023.
Energy Dome began its operations in February 2020 and has progressed from a concept to full testing at multi-megawatt scale in just over two years. To achieve this, Energy Dome has tapped a team of experts in turbomachinery, process engineering and energy, with a proven track record in ventures designing novel turbines and building over 500MW of energy projects. This successful launch is also in part due to the unique nature of Energy Dome''s process, which integrates known components in a novel industrial process based on a thermodynamic transformation of CO2.
The company has already secured multiple commercial agreements, including with an Italian utility A2A for the construction of a first 20MW-5h facility. Earlier this year, Energy Dome also signed a non-exclusive license agreement with Ansaldo Energia, a major provider of power generation plants and components, to build long-duration energy storage projects in Italy, Germany, the Middle East and Africa.
To fund the rapid commercial scale-up, Energy Dome plans to launch its Series B fundraising round for prospective investors interested in its groundbreaking energy storage technology.
Energy Dome is an energy storage solution provider that is unlocking renewable energy by making solar and wind power dispatchable using the CO2 Battery. Led by a team with a track record of innovation in the energy sector, Energy Dome''s low-cost energy storage technology helps accelerate the global transition to renewable energy by enabling greater penetration of renewables on the grid. In 2022, the company won the prestigious BloombergNEF Pioneers competition under the category "providing round-the-clock zero-emissions power.” For more information, please visit:
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