Long-Duration-Energy Storage (LDES) has quickly become pivotal in driving the renewable energy transition forward. By 2040, it’s estimated that LDES could prevent up to 2.3 gigatons of CO2 emissions annually—equivalent to taking 460 million cars off the road. With billions of dollars flowing into the sector, we reviewed the data to identify the LDES market leaders. Here are the key players leading the charge.
Form Energy
Transitioning from fossil fuels to renewable energy demands affordable and reliable energy storage solutions—something Form Energy has set its sights on. The company’s iron-air battery, hailed as ‘the invention of the year’ by Time magazine in 2023, is designed to do just this. The battery provides 1 gigawatt of power for 100 hours, enough to supply 1 million homes for four straight days. August 2024 saw the launch of their first pilot project in New England, marking a significant leap from the lab to real-world applications. By leveraging iron—one of the planet’s most abundant resources—Form makes long-duration storage both cost-effective and scalable.
Energy Vault
Energy Vault offers an alternative solution to stabilizing the grid: gravity. Taking a cue from pumped hydro plants, the Swiss company has engineered a gravitational battery system that stores energy by lifting and lowering composite blocks made from recycled materials. Excess renewable energy lifts the blocks, and when power is needed, they’re lowered to convert potential energy back into electricity. Energy Vault’s scalability and cost-efficiency have drawn in $718m of funding from investors like Atlas Renewable Energy and Novus Capital. The company’s gravity-based approach offers a compelling alternative to more traditional solutions like hydrogen.
Phinergy
Israeli startup Phinergy is a leading metal-air battery developer. The company turns common metals like aluminum and zinc into clean energy sources. Phinergy’s batteries can store energy for longer than lithium-ion batteries, while being lighter in weight and more cost-efficient. This positions their batteries as a competitive solution for EVs, renewable energy storage, and backup systems. With the launch of an automated production line last year, Phinergy is moving fast to bring its innovative storage tech to market at scale.
Antora Energy
Industry accounts for over 30% of global emissions. Antora Energy aims to cut that number down to zero. Founded by Stanford and MIT alumni, the California-based startup has created thermal batteries that store energy in carbon blocks. Small enough to fit in half the space of a shipping container, these batteries are powerful enough to provide energy to over 100 homes. With over $230 million raised to date, Antora is pushing to scale up production, helping industries convert renewable energy into a reliable power source for heat-intensive operations.
Corre Energy
Corre Energy supports the transition to cleaner energy by delivering large-scale energy storage using compressed air and hydrogen. The company is set to deliver one of Europe’s largest battery energy projects in 2024, using underground hydrogen storage to balance energy supply and demand across the grid. This project provides the essential infrastructure for storing renewable energy on a large scale, playing a critical role in the global shift towards cleaner energy.
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