RheEnergise, London, will receive £149,537 to develop High-Density Hydro®, a cost optimised energy storage solution to create stable, dispatchable power grids from ultra-low-cost renewable energy.

The Longer Duration Energy Storage Demonstration Programme forms part of the Government’s 10 Point Plan for a green industrial revolution, in which the Prime Minister committed £100m to address “Energy Storage and Flexibility Innovation Challenges” as part of the £1bn Net Zero Innovation Portfolio (NZIP). The NZIP is also outlined in the Energy White Paper: Powering our Net-Zero Future.

The Programme will support the demonstration of innovative Longer Duration energy storage technologies which provide grid flexibility, through funding provided by the Department for Business, Energy and Industrial Strategy (BEIS). 

Energy & Climate Change Minister Greg Hands said “Driving forward energy storage technologies will be vital in our transition towards cheap, clean and secure renewable energy. It will allow us to extract the full benefit from our home-grown renewable energy sources, drive down costs and end our reliance on volatile and expensive fossil fuels. Through this competition we are making sure the country’s most innovative scientists and thinkers have our backing to make this ambition a reality.”

“We are delighted to be selected as part of the £68M Longer Duration Energy Storage SBRI Competition, the funding from BEIS will allow us to further develop High-Density Hydro®. The UK has the opportunity to lead the way on building clean energy storage and we truly believe our solution offers many ways to decarbonise the UK power grid and create high-value jobs, generating exports across the globe.” says Stephen Crosher, CEO of RheEnergise.

The global storage market is growing at an unprecedented pace. Nations are simultaneously transitioning away from fossil-fuels, creating incredible opportunities in short time frames, due to the climate crisis. The Long Duration Energy Storage Council forecast that $1.5-$3.0 trillion of investment in energy storage will be needed by 2040. RheEnergise is in prime position to accelerate their High-Density Hydro solution as it is low-cost, fast to build and globally scalable with supply chains that already exist.

Click here to read the UK Government Announcement.

Click here to see list of organisations in Stream 2.