RheEnergise welcome support for investment in energy storage
UK Government announces new scheme to attract investment in renewable energy storage
IN response to this morning’s announcement from the UK Department of Energy Security and Net Zero (DESNZ), Stephen Crosher, chief executive of RheEnergise, the UK company that is developing a new and advanced form of long-duration hydro-energy storage system, said: ‘RheEnergise welcome the support scheme announced today by the UK Government to attract investment in renewable energy storage. In particular, we are pleased to note a stream dedicated to new innovation technologies, such as our High-Density Hydro solution.
‘We anticipate that under a cap and floor mechanism, our particular type of long-duration energy storage will be financed and built in the UK, providing a highly cost-effective alternative to traditional pumped hydro energy storage and other forms of storage – such as liquid-air energy storage, compressed-air energy storage, and flow batteries.’
RheEnergise’s demonstrator project is currently under construction near Plymouth, Devon; the project has received financial support from DESNZ.
