NEW YORK--(BUSINESS WIRE)--Highview Power Storage, Inc., a global leader in long duration energy storage solutions, and Encore Renewable Energy, a developer of renewable energy generation and storage projects, today jointly announced plans to develop the United States’ first long duration, liquid air energy storage system. This facility will be a minimum of 50MW, provide in excess of eight hours of storage (400MWh) and will be located in northern Vermont.
The project is the first of many utility-scale, liquid air energy storage projects that Highview Power plans to develop across the United States to help scale up renewable energy deployment. The Vermont facility will contribute to resolving the longstanding energy transmission challenges surrounding the state’s Sheffield-Highgate Export Interface (SHEI) and enable the efficient transport of excess power from renewable energy sources, such as solar and wind power to help integrate them on the power grid.
In addition to supplying clean, reliable, and cost-efficient energy storage, the facility to be developed by Highview Power and Encore will provide valuable services to the area’s transmission system to help integrate renewable energy, stabilize the regional electrical grid, and ensure future energy security during storms and other disruptions. This includes the ability to store energy for weeks at the lowest levelized cost of long duration storage in the industry, and providing what is called “grid-synchronous inertia,” which balances electrical demand and supply and helps avoid blackouts. Other services the facility can deliver include market arbitrage, frequency management, reserve, and grid constraint management services. Highview Power and Encore are in discussions with potential utility and transmission grid operator customers regarding the capabilities and services the facility can provide.
Salvatore Minopoli, vice president of Highview Power USA, said the company has strategically sought partners in the U.S. that are renewable energy market leaders with experience in developing large-scale projects. “With their expertise in community-scale solar PV systems, traditional battery storage applications and solutions for the redevelopment of under-utilized properties, Encore Renewable Energy is a perfect partner for us as we continue expanding our technology in the United States,” Minopoli said.
“We are excited to deploy our first long duration energy storage system in the United States. It is wonderful to partner with a company that shares our vision for a healthier environment and a sustainable economy,” commented Javier Cavada, CEO of Highview Power.
“Highview Power’s patented technology offers a unique, cost effective solution for unleashing a greater amount of cost-efficient renewable energy generation in transmission constrained areas,” said Chad Farrell, Founder and CEO of Encore Renewable Energy. “It will also allow for fewer curtailments and provide important energy balancing services for the rapidly evolving modern grid; all of which are extremely important as we look to build the infrastructure required to support a robust clean energy economy.”
With Highview Power’s liquid air energy storage solution, excess or off-peak electricity is used to clean and compress air which is then stored in liquid form in insulated tanks at temperatures approaching 320 degrees below zero Fahrenheit (-196 C). When electricity is in high demand and more valuable, the pressurized gas is allowed to warm, turning a turbine as it expands and thus generating energy that can be used at peak times when the sun is not shining and the wind is not blowing.
Highview Power’s proprietary liquid air energy storage system, called CRYOBattery™, relies on low-risk, proven technology, generates zero emissions, has zero water impact and can be delivered at a cost of approximately half of the current cost of traditional lithium-ion batteries. At utility-scale, Highview Power’s long duration energy storage systems paired with renewables are equivalent in performance to fossil fuel powered thermal and nuclear baseload power.
The U.S. energy storage market is expected to surge over 700% to nearly $5.4 billion by 2024, driven mostly by utility-scale projects, according to analyst firm Wood Mackenzie Power & Renewables
About Highview Power
Highview Power Storage, Inc. is the designer and developer of a liquid air energy storage system, also known as the CRYOBattery™. This proprietary long duration energy storage system delivers reliable and cost-effective long-duration energy storage to enable a 100 percent renewable energy future. Its proprietary technology uses air liquification as the storage medium and can deliver anywhere from 20 MW/80 MWh to more than 200 MW/1.2 GWh of energy and has a lifespan of 30 to 40 years. Developed using proven components from mature industries, it delivers long duration energy storage capabilities without geographical constraints and can be configured to convert waste heat and cold to power. Highview Power is based in London, UK and operates in the US through its affiliate Highview Power Storage, Inc. of New York. For more information, please visit: http://www.highviewpower.com.
About Encore Renewable Energy
Encore Renewable Energy is a Burlington, Vermont-based leading integrated clean energy services company with a proven track record of reclaiming undervalued real estate for community-scale solar PV and large-scale energy storage systems. Founded in 2007 as Encore Redevelopment, Encore specializes in the design, development, financing, permitting, and construction of innovative renewable energy projects on landfills, brownfields, rooftops and carports. For more information about Encore, please visit www.encorerenewableenergy.com.