Cryogenic Storage Model (Source: twitter.com/highviewpower)
Cryogenic Storage Model (Source: twitter.com/highviewpower)

London-based Highview Power announced last week the development of CRYOBattery, the first modular cryogenic energy storage system of its kind.

In a statement, the company said the battery can scale up to multiple gigawatts of storage and has a leveled cost of storage of $140 per megawatt hour. Company officials also believe a system of CRYOBatteries could perform at the same level as a fossil fuel power station, possibly replacing it.

“This is a pivotal moment for the renewable energy industry and for anyone who wants to deploy large amounts of renewables,” said Javier Cavada, Highview Power president and CEO.

“As more and more renewables are added to the grid, long-duration, giga-scale energy storage is the necessary foundation to make these intermittent sources of power reliable enough to become baseload,” he added. “ Not only does our CRYOBattery deliver this reliability and allow scalability—it is proven, cost-effective, and available today.”

Company officials did not say when or where they will connect their first CRYOBattery facility to an electrical grid.

Company Says Battery Will Provide Much-Needed Stability for Renewable-Focused Grids

CRYOBattery’s scalability means it can handle enough power to provide stability for grids whose reliance on renewables results in intermittent influxes of energy. When the sun goes down, solar generation stops. When the wind ceases to blow, wind generation stops.

CRYBattery bridges those gaps and allows an integrated system of reliable power generation, Cavada said.

“This makes replacing gas peaker power plants with a combination of solar, wind and energy storage a viable reality and truly sets the stage for a future where 100% of the world’s electricity comes from clean energy sources,” he said.

Storage an Essential Part of Decarbonization Goals

A recent report from Wood Mackenzie about the push for 100% renewable electricity usage in the United States noted that storage will play a key role.

The report said that 100% decarbonization would require “approximately 900 gigawatts of storage investments” to provide grid stability and reliability.

At present, the world has about 5.5 gigawatts of battery storage. Most of that, the report said, is lithium ion storage.

This form of battery “fails to deliver the longer duration storage capability critical to balancing seasonal swings,” the report said.

Author:
Energy Pages is an online trade publication and business directory for the retail energy industry. We publish editorials, resources, case studies, practical information and industry news. Our content is about and for industry leaders, innovators, investors and influencers.

Your Opinion Matters

Have Something To Say About This Story?

Sign Up for the Energy Pages Digest

Our weekly must-see brief

You May Also Like

Data Samurai Holly Paulus Provides Data-Driven Energy Industry Solutions

Data is the sword of the 21st century; those who wield it well are the Samurai.

How Blockchain Can Change Energy Markets Forever

Whether blockchain had come along or not, energy markets are undergoing unprecedented change. Global initiatives are recognizing the benefits of renewable energy and through uptake, the cost of solar, wind and battery power has dropped below that of fossil fuels. Distributed energy resources (DERs) are more widespread than ever before.

Frack-Free Natural Gas: The Future of the Industry?

In November, natural gas producer Carbon Creek Energy, accomplished a groundbreaking achievement for the natural gas industry when they offered the first-ever Frack-Free Natural Gas Certificates to energy services company East Coast Power & Gas. Until now, a mechanism for authenticating and independently verifying the environmental quality of a product of this kind did not exist.

Software Leaders’ Merger Aims to Give Energy Brokers Best Single Technology Platform

“The new Powermatrix set to revolutionize broker, third-party and supplier software and communications in retail energy.”