Funding signals the critical role long duration energy storage will play in grid stability and energy transition Highview Power enters 2021 with 4GWh pipeline of CRYOBattery storage projects across.
East African company buys into UK power storage
East Africa-focused Janus Continental Group (JCG) has invested $13 million in Highview Power, which has developed a liquid air energy storage system.
Updated: 09/02/2021, 10:28 am
GLAE was involved in the development of the 24MW Kabulasoke Solar Power Park in Uganda
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East Africa-focused Janus Continental Group (JCG) has invested $13 million in Highview Power, which has developed a liquid air energy storage system.
Highview Power’s global expansion plans have taken a huge step forward as the company yesterday (8th Feb) announced it had closed a $70m funding round.
Published: 9 Feb 2021, 14:28
By:
Andy Colthorpe
Artist rendering of the 250MWh LAES project Highview is building near Manchester, UK. Image: Highview Power.
A US$70 million funding round has been successfully closed by Highview Power, a UK-headquartered company which has developed a liquid air energy storage (LAES) system called the ‘CRYOBattery’.
Highview’s proprietary technology is aimed at enabling bulk storage of electricity for grids safely and for long-durations, aiding the integration of renewable energy and providing grid services. The CRYOBattery cools ambient air to -196°C which is then stored at low pressure before being heated and expanded to drive a turbine and generate power. CEO Javier Cavada previously told
Press release content from Business Wire. The AP news staff was not involved in its creation.
Highview Power Closes Growth Capital Funding Round with $70 Million
February 9, 2021 GMT
LONDON & WASHINGTON (BUSINESS WIRE) Feb 9, 2021
Highview Power, a global leader in long duration energy storage solutions, is pleased to announce that it has closed its Growth Capital round of funding with over $70 million, bringing the total amount of funding and grants the company has secured to date to over $145 million. The Growth Capital round includes the previously announced $46 million investment from Sumitomo Heavy Industries (SHI) and additional investments from strategic investors Janus Continental Group (JCG) and TSK, along with a $5.5 million contribution from the original and founding investors.