Darrell Proctor of Power reports on a new thermal energy storage system.
- Fourth Power has raised $19 million to scale its energy storage technology that the startup claims will be more cost-effective than lithium-ion batteries.
- The system converts energy from solar and wind operations to thermal energy that can easily be stored and deployed.
- The company does not use many of the rare earth minerals that other energy storage systems require, which it claims will allow it easily scale up.
“The company said its technology ‘is designed to maximize the value of renewable energy generation and offer grid operators control and flexibility at the lowest cost compared to other energy storage options. The system is also modular and scalable by adding more carbon blocks to increase storage duration, allowing growth with the grid as renewable generation increases.'”
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