For 10 years, we have been engaged in an energy transition from a fossil to a carbon-free energy economy, an objective to attain by the year 2050. This energy revolution is bringing profound changes in our power systems, from centralized to decentralized energy generation with the rise of renewables Contact online >>
For 10 years, we have been engaged in an energy transition from a fossil to a carbon-free energy economy, an objective to attain by the year 2050. This energy revolution is bringing profound changes in our power systems, from centralized to decentralized energy generation with the rise of renewables.
Since 2010, renewable energies have shown double-digit growth every year (on average +13% per year) boosted by wind and solar, now reaching 28% of the global electricity production, and this trend is not over.
Dozens of companies are now offering energy storage solutions. In this article, our energy storage expert has selected the most promising energy storage companies of 2024 and demonstrates how their technologies will contribute to a smart, safe, and carbon-free electricity network.
The most common way of storing electricity is with batteries. Various technologies are being developed by promising companies, from lithium to redox flow batteries. Let''s have a look at four most promising battery storage companies in 2024.
Alpha ESS is a Chinese company operating worldwide since 2012, they are covering both residential and commercial markets with energy storage solutions based on lithium battery technologies. They have a production capacity of 1 GWh per year and are focused on innovation with 40% of their employees working in R&D (research and development).
Alpha ESS offers a global solution in energy storage. Not only do they develop energy storage systems based on lithium batteries, but they also develop BMS (battery management systems), EMS (energy management system), cloud energy platforms, and energy system integration (smart energy).
The strength of Alpha ESS is to cover all energy storage applications at a grid scale level (electricity peak shaving, renewable energy integration, energy transmission) and at the residential level (micro-grid, off-grid, self-consumption, backup power). They are committed to deliver the most innovative and reliable products in both hardware (battery) and software (smart grid). Therefore, it is not a surprise to find them as recipients of awards like Top Brand PV in Australia and listed as one of the Top Cleantech companies in the world.
Romeo Power is a US-based lithium battery company founded in 2015 by an elite team of engineers and innovators from major companies like Tesla, Samsung, SpaceX, and Amazon. They are dedicated to developing energy-dense battery packs for the automotive industry. Their key markets are North American commercial vehicles like trucks and buses and European high-performance and commercial vehicles.
Their batteries offer up to 30% more energy density than other manufacturers, which therefore means longer operation range for vehicles. They develop advanced battery management systems (BMS) for vehicles that enable faster charging and present improved mileage estimation together with lower battery cell aging. They produce thermal solutions to cool down batteries, therefore optimizing the vehicle performances at high speed or during strong acceleration. In addition, they work on the safety of the battery pack with dedicated power electronic engineering and destructive testing.
Thanks to a high level of innovation, Romeo Power has a bright future in the electric vehicle (EV) industry. The EV market is booming with a 40% sales increase in 2020 (4.4% of the global market share) and is expected to grow another 50% in 2021. The total market share is forecasted to reach 50% of all vehicles by 2030.
ESS Inc is a US-based energy storage company established in 2011 by a team of material science and renewable energy specialists. It took them 8 years to commercialize their first energy storage solution (from laboratory to commercial scale). They offer long-duration energy storage platforms based on the innovative redox-flow battery technology. Their first energy center production line was launched in 2020.
ESS Inc is developing iron redox flow battery solutions. In a redox flow battery, the solid positive and negative electrodes are replaced by two electrolyte solutions that flow continuously and exchange ions through a central membrane, generating a flux of electrons (electricity) in the electric system. Thanks to this technology, their products exhibit an extremely long life duration of 20,000 cycles with no degradation (25 years'' operating life), low level of toxicity (no lithium), and quick power response times.
After 10 years of continuous R&D, ESS Inc was able to masterize the iron redox flow battery technology offering scalable storage solutions with high power and energy capacity for the electricity network (6 MW and 74 MWh) and for local commercial applications (400 kWh). There is no doubt that ESS Inc will have a key role in the smart electricity network, thanks to the lowest LCOS (levelized cost of storage) as low as 0.03$/kWh.
EOS is a US-based company founded in 2008. It took them 12 years from laboratory to commercial production of their stationary energy storage solutions. In January 2020, they launched their 1 GWh production line and were listed on NASDAQ in November 2020. EOS offers grid-scale energy storage solutions and commercial solutions for peak shaving and energy demand management.
More than 10 years of active R&D was needed to bring to the market their zinc (Zn)-based battery. The main component is the zinc hybrid cathode technology (Znyth® Battery) built on 21 patents. Thanks to a high level of innovation, their energy storage system has a 15-year life duration, can work under extreme temperature, is safe to operate, is 100% recyclable, has immediate response time, and is scalable from commercial to global grid scale.
EOS is addressing the same market as ESS Inc, however, with a different technology. Even though they have a lower life duration of 15 years, their products show several advantages such as a higher energy density. Therefore their batteries can fit in smaller spaces and are scalable to 10 MW and more. There is no doubt that ESS Inc will be a key player in energy storage for peak shaving and energy arbitrage for a more efficient use of the global electricity network with high renewable energy penetration rates.
Hydrogen technologies enable long-term and seasonal renewable energy storage. After being confined in laboratories for decades, they are now gaining momentum and are expected to be a key player in the energy smart grid (10% yearly growth rate up to 2030).
Enapter is a German-based company founded in 2004 with a long history of successful R&D and technological demonstrations. ln Thailand, they developed the world''s first domestic micro-grid fully powered by solar energy and hydrogen energy storage technologies. They are pioneers in green hydrogen production.
About Home energy storage companies
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