EnerVenue, a US-based battery technology startup, has secured $100 million in funding to develop grid battery storage systems using nickel-hydrogen technology originally developed by NASA. The technology was initially designed for use in the Hubble Space Telescope and the International Space Station, but EnerVenue aims to bring it down to Earth to create safer, longer-lasting, and cheaper grid batteries.
The new battery technology is more fire-resistant than traditional lithium-ion batteries and does not degrade from regular use, which makes it an attractive proposition for grid battery storage. EnerVenue’s battery technology has a relatively simple manufacturing process with just 20 unique components, which should make it easier and cheaper to produce.
The company is investing $264 million in a factory in Kentucky to begin production by the end of the year. It has already signed 805 megawatt-hours’ worth of firm orders, indicating strong interest in the technology.
EnerVenue’s technology uses an unnamed material as a catalyst, which is designed to be radically cheaper than the platinum catalyst used in NASA’s original technology. The company is hoping to compete with lithium iron phosphate (LFP) batteries, which are currently used in many grid storage applications because of their safety and reliability.
The new nickel-hydrogen batteries are not suitable for use in cars, but power plants that use them can earn an extra 10% investment tax credit because they are made in the US. EnerVenue’s goal is to make wind and solar power available at any hour of the day by providing reliable, long-lasting energy storage.
However, the technology is relatively untested, and it remains to be seen if developers can successfully hook up the batteries to form large-scale storage plants that perform as advertised. Despite this, investors are showing a lot of interest in EnerVenue’s technology, which could revolutionize grid battery storage.
The CEO of EnerVenue, Jorg Heinemann, explained that the technology is a game-changer for the energy storage industry, “We believe our nickel-hydrogen battery technology will enable the widespread adoption of renewable energy and provide grid stability, which is essential for the transition to a low-carbon future.”
The demand for renewable energy is rapidly increasing worldwide, and energy storage systems are essential to ensure that electricity generated from renewable sources can be stored and used when needed. EnerVenue’s new technology could help to address this challenge and enable the widespread adoption of renewable energy sources.
In conclusion, EnerVenue’s use of NASA’s nickel-hydrogen technology could revolutionize grid battery storage, offering a safer, longer-lasting, and cheaper alternative to traditional lithium-ion batteries. The new technology has already secured significant funding and firm orders, indicating a strong interest in its potential. While it remains untested at scale, EnerVenue’s technology has the potential to provide reliable, long-lasting energy storage, enabling the widespread adoption of renewable energy sources.