EnergyNest is working to make large-scale thermal energy storage globally viable. Its thermal battery enables power producers and energy-intensive industries to utilise excess heat in a flexible manner.
A global energy transition is underway. The future electricity supply will be dominated by variable and intermittent renewables. Energy storage will be vital to balancing electricity supply and demand. It will also enable power plants and industrial facilities to improve flexibility, demand response and energy efficiency.
EnergyNest’s thermal battery technology is modular, flexible, scalable and built for purpose. The company’s systems are designed for medium and long-duration storage – with capacities ranging from 10 MWh to 10 GWh. They can be deployed anywhere.
The systems are very compact, with high energy density, small carbon footprint and very low energy loss. They are made from steel and concrete – abundant, recyclable and non-hazardous materials. These are easy to acquire, meaning that the local workforce and materials can be used and transportation kept to a minimum.
EnergyNest’s systems store energy at low cost, make energy flexible and dispatchable on the supply side and manageable on the demand side, and increase energy efficiency in power plants and energy-intensive industries. They help users to increase profits and reduce carbon footprint, and may also promote smart grid development.
Energy-intensive industries will benefit from reduced electricity consumption and costs, fuel savings from reduced natural gas consumption,participation in electricity demand-side response programmes, available incentives for cogeneration, and available carbon credits for large industrial emitters. Moreover, residual heat provides opportunities for district heating contracts and the possibility to control steam provision to other local industries.
Thermal power plants, meanwhile, will benefit from increased flexibility, especially in supporting renewables, as well as from frequency regulation/reserve market participation. capacity market bid increases, wholesale power price arbitrage, ast ramping capabilities and dispatchable steam grid sales.
The total addressable market is currently estimated to be in the range of EUR 10 billion by 2020. The three main market segments are energy-intensive industries, concentrated solar power, and conventional thermal power generation. WWF has estimated the worldwide carbon emissions reduction potential for EnergyNest to be more than 35 million metric tons by 2027 for industrial applications alone.