Cleantech energy storage startup RheEnergise has secured a 2.5 million grant from the European Innovation Council (EIC) Accelerator to support the company’s R&D work.
RheEnergise is developing an innovative long-duration energy storage technology called High‑Density Hydr (HD Hydro). At times of low energy demand, the High-Density Fluid is pumped uphill between storage tanks buried and connected by underground pipes.
As energy prices rise, non-corrosive fluid is released downhill and passes through turbines, generating electricity to supply power to the grid.
Projects will range from 10 MW to 100 MW of power and can work with vertical elevations as low as 100 metres or less. It means that, unlike conventional pumped hydro energy storage, a RheEnergise HD Hydro system can operate beneath small hills rather than mountains; the system requires 2.5 times less vertical elevation. It also means that there are many more sites suitable for RheEnergise projects – in the UK and worldwide.
Stephen Crosher, Chief Executive of RheEnergise, said:
“The receipt of the EIC Accelerator grant is hugely welcome, as the EIC acknowledges the quality of our R&D to date, and the commercial prospects for our LDES technology to be deployed.
With the start of pumping of our High-Density Fluid soon to commence at our demonstrator energy storage plant on the outskirts of Plymouth, and the encouraging global interest that is being shown in our LDES technology, we are in a strong position to be one of the UK’s leading green energy unicorns.”
The LDES demonstrator, at Cornwood near Plymouth, Devon, has received financial support from the UK Department of Energy Security & Net Zero. RheEnergise has agreements in place to deploy its technology in the UK, South America, Australia and mainland Europe.
The grant award coincides with the start of RheEnergise’s investment roadshow in Canada.
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