Energy Innovation Agency supports HalioGEN Power to achieve €3 million funding
- Friday, January 19, 2024
- Posted By The Growth Company
The Energy Innovation Agency is working with Manchester-based HalioGEN Power to bring their innovative lithium-free long duration battery system to the global market and has supported them in securing millions of euros in funding. HalioGEN Power is developing a redox flow battery which provides both cost and performance advantages compared to traditional lithium-ion batteries, for a range of customers from SMEs to grid-level service providers. The battery boasts capacities ranging from 100 kWh to 1 MWh and provides over 10 hours of storage, compared to traditional lithium-ion batteries which are limited to four hours.
Long-duration energy storage like this offers significant advantages over traditional battery system applications, making it a more economic and sustainable alternative to conventional technologies for businesses of all sizes and is key to supporting low-carbon energy transition and security.
“Our goal is to bring to market a new, disruptive energy innovation that helps address global energy transition and security challenges, while also tackling geo-specific issues that threaten the stability of the grid, such as the so-called ‘dark lulls’ in Germany. These lulls see the country go for up to ten days without significant solar and wind energy generation...
...Our redox-flow battery technology creates long-term storage to navigate issues like this in order to maximise the environmental and economic sustainability of renewable energy systems.”
The Agency has worked with HalioGEN Power since July 2023, supporting on the development of the funding pitch and delivering the pitch to funding organisation SPRIND, alongside the business, in Germany.
Following a successful pitch in November 2023, to funders, HalioGEN Power were chosen to receive €3 million to support the commercialisation of their innovation in 2024 and beyond.
“The Agency is thrilled to be working with the HalioGEN Power team, to help them accelerate development of their innovative battery technology and business throughout 2024 and beyond, by offering access to business development support, and end-users, to support the energy transition with innovative products which make greater use of stored energy from clean renewable energy generation”.
The Agency will continue to work with HalioGEN Power supporting the development of the business plan, sourcing and introducing potential end user customers and defining a clear route for the technology from prototype to market ready.
To find out more about the Energy Innovation Agency and the support available to innovators, visit: www.energyinnovationagency.co.uk