Energy Storage Firm Stem’s Loss Narrows to $32 Million in Q2 2022

Energy Storage Firm Stem’s Loss Narrows to $32 Million in Q2 2022

Smart energy storage company Stem recorded revenue of $67 million in the second quarter (Q2) of 2022, a year-over-year (YoY) increase of 246% from $19 million. Stem attributed higher hardware ...
Reliance, Ola and Rajesh Exports Sign Agreement for Battery Storage Under PLI Program

Reliance, Ola and Rajesh Exports Sign Agreement for Battery Storage Under PLI Program

Reliance New Energy, Ola Electric Mobility, and Rajesh Exports have signed the program agreement under the Production Linked Incentive (PLI) Program for Advanced Chemistry Cell (ACC) Battery Storage. Mercom had ...
Energy Storage Will Drive the Growth of Renewables in Future (1)

Energy Storage Will Drive the Growth of Renewables in Future

There is a growing need for energy storage systems to supply round-the-clock power, given the intermittent nature of wind and solar energy. India's energy storage capacity stands at 27.2 GWh ...
Enphase Energy’s Revenue Surges 66% YoY to $530 Million in Q2 2022

Enphase Energy’s Revenue Surges 66% YoY to $530 Million in Q2 2022

Microinverter-based solar-plus-storage systems company Enphase Energy recorded second-quarter (Q2) revenue of $530.2 million, a year-over-year (YoY) increase of 66% from $316.05 million in Q2 2021. The company said that the ...
Project Finance Brief: Spearmint Energy Acquires 150 MW Battery Energy Storage Project

Finland-Based Stora Enso and Northvolt to Produce Batteries Using Renewable Wood

Taking a step further to maintain sustainability in battery production, Finland-based forest products manufacturer Stora Enso and lithium-ion battery producer Northvolt inked an agreement to develop what is claimed to ...
Europe's Battery Cell Production Capacity to Increase to 1.5 TWh by 2030

Europe’s Battery Cell Production Capacity to Increase to 1.5 TWh by 2030

Europe is expected to achieve a battery cell production capacity of 124 GWh during 2022, with significant Asian cell producers expanding operations in the region and extensive investments in many ...
Storage Key to Unlocking Full Potential of Solar and Wind Energy Sources

Storage Key to Unlocking Full Potential of Solar and Wind Energy Sources

Given the intermittent nature of solar and wind energy and the growing demand for round-the-clock power in India, energy storage is the vital missing piece. Energy storage is key to ...
Hero Future Energies to Develop 10 MW/20 MWh Battery Energy Storage System in Kerala

Hero Future Energies to Develop 10 MW/20 MWh Battery Energy Storage System in Kerala

Hero Future Energies (HFE), the renewable energy venture of Hero Group, was declared the winner of the auction conducted by the Kerala State Electricity Board (KSEBL) for the construction of ...
Corporate Funding for Battery Storage Firms up by 64% YoY in 1H 2022

Corporate Funding for Battery Storage Firms Up by 64% YoY in 1H 2022

Global corporate funding for battery storage, smart grid, and energy efficiency companies in the first half (1H) 2022 increased to $17 billion compared to $10.4 billion raised in 1H 2021, ...
Ola to Set up $500 Million Battery Innovation Center in Bangalore

Ola to Set up $500 Million Battery Innovation Center in Bengaluru

Bengaluru-based electric vehicle (EV) manufacturer Ola Electric announced that it will invest $500 million in setting up a state-of-the-art Battery Innovation Center (BIC) in Bengaluru. According to the company, the ...
Researchers Develop Metal-Free Electrolyte to Make Large-Capacity Batteries

Researchers Develop Metal-Free Electrolyte to Make Large-Capacity Batteries

Two researchers from the University of Arizona have developed a metal-free electrolyte that they plan to use to make non-toxic batteries that can store large amounts of electricity. The team ...
Indian Scientists Develop Sodium-ion Batteries for E-Cycles Using Nanomaterials

Indian Scientists Develop Sodium-ion Batteries for E-Cycles Using Nanomaterials

Scientists at the Indian Institute of Technology (IIT), Kharagpur, have used nanomaterials to develop sodium-ion (Na-ion) batteries and supercapacitors that can be integrated into e-cycles for rapid charging. The aim ...
Reusing Discarded Materials Could Spawn a Circular Economy in Energy Storage Sector

Reusing Discarded Materials Could Spawn a Circular Economy in Energy Storage Sector

Experts at the U.S. Department of Energy’s (DOE's) National Renewable Energy Laboratory (NREL) have outlined key measures to limit and reuse the materials used in diverse designs of photovoltaics and ...
BIS Outlines Performance Standards for EV Batteries Amid Multiple Reports of EV Fires

BIS Outlines Performance Standards for EV Batteries Amid Multiple Reports of EV Fires

The Bureau of Indian Standards (BIS) has issued performance standards for electric vehicle (EV) batteries to ensure the safety of the consumers amidst the report of EV fires across the ...
Battery Recycling Startup BatX Energies Raises $1.6 Million In Seed Funding Round

Battery Recycling Startup BatX Energies Raises $1.6 Million In Seed Funding Round

India-based lithium-ion battery recycling startup BatX Energies raised $1.6 million in a seed funding round led by JITO Angel Network. The round saw participation from existing investors such as Rohit ...
Second-Life Battery Energy Storage Company Secures $18 Million in Funding

Second-Life Battery Energy Storage Company Secures $18 Million in Funding

The Hinduja Group, along with Caterpillar Venture Capital, Mercuria, Our Crowd, and Volvo Energy, is investing £15 million (~$18.45 million) in Connected Energy, a second-life battery energy storage company. The ...
Used Batteries from Audi e-Tron to Power Rickshaws in India

Used Batteries from Audi e-Tron to Power Rickshaws in India

Indo-German start-up Nunam is bringing three electric rickshaws to India powered by used batteries from test vehicles in the Audi e-Tron test fleet. The project explores how modules made with high-voltage batteries can ...
US Added 955 MW of New Energy Storage Installations in Q1 2022

US Added 955 MW of New Energy Storage Installations in Q1 2022

The U.S. energy storage market added 955 MW and 2,875 MWh of new installations across all segments in the first quarter (Q1) of 2022, taking the total grid-scale installations capacity ...
New York State Awards 1 GW of Solar Plus Energy Storage Projects to EDF Renewables

New York State Awards 1 GW of Solar Plus Energy Storage Projects to EDF Renewables

EDF Renewables North America, a wholly-owned subsidiary of the French utility EDF Group, announced that its three solar plus energy storage projects were awarded long-term contracts by the New York ...
DOE Announces First Loan Guarantee for a Clean Energy Storage Project in Eight Years

DOE Announces First Loan Guarantee for a Clean Energy Storage Project in Eight Years

The Loans Programs Office (LPO) of the United States Department Of Energy (DoE)  has closed a $504.4 million loan guarantee for an Advanced Clean Energy Storage (ACES) project in Utah ...
Bids invited to Set up a 10 MW Grid-Scale Battery Energy Storage System in Haryana

Bids invited to Set up a 10 MW Grid-Scale Battery Energy Storage System in Haryana

Dakshin Haryana Bijli Vitran Nigam (DHBVN) is seeking expression of interest (EoI) from any Indian or global company or their consortium, affiliates, or representatives for setting up a grid-scale battery ...
NTPC Issues Tender for the Supply of EV Chargers

NTPC Issues Tender for the Supply of EV Chargers

NTPC Vidyut Vyapar Nigam (NVVN) has issued an invitation for bids for the supply of electric vehicle (EV) chargers for the public charging infrastructure in cities under the Faster Adoption ...
Sungrow to Supply to Tata Power's 60.56 MWh Battery Energy Storage Project in Ladakh

Sungrow to Supply to Tata Power’s 60.56 MWh Battery Energy Storage Project in Ladakh

Inverter manufacturer Sungrow has announced that it will be supplying its storage solutions to Tata Power Solar Systems' (TPSSL) 60.56 MWh battery energy storage system (BESS) project at Phyang, in ...
Battery Company Solid Power Reports 358% YoY Increase in Revenue in Q1 2022

Battery Company Solid Power Reports 358% YoY Increase in Revenue in Q1 2022

Solid Power, an all-solid-state rechargeable battery cells manufacturer, reported a revenue of $2.2 million in the first quarter (Q1) 2022, a 358% year-over-year (YoY) increase compared to $480,000 in Q1 ...
Energy Storage Firm Stem Posts 166% Growth in Revenue, Secures Supply Chain for 2022

Energy Storage Firm Stem Posts 166% Growth in Revenue, Secures Supply Chain for 2022

Stem, a smart energy storage company, posted revenue of $44.1 million in the first quarter (Q1) of 2022, a year-over-year (YoY) spike of 166% from $15.4 million in the same ...