Objective There is a niche opportunity in the electricity market across Europe for the provision of additional system/balancing services, decoupled from electricity generation, resulting from the rise in renewable generation. The innovative and unique approach is the development of hybrid-powered flywheels, synergising two proven technologies, flywheels and batteries and application to the electricity system for the first time, to provide security and stability. Hybrid-powered flywheels are resounding success in Formula1 motor racing for rapid acceleration. Schwungrad Energie plans to exploit the concept to enhance system security and stability. The advanced energy storage technology market is forecast to expand at a Compound Annual Growth Rate of 12.3% to €27 billion between 2012 and 2020.European countries are aiming to achieve low carbon energy systems by transitioning to renewable sources, to realise their European targets. This requires a higher penetration of intermittent, unpredictable generators (wind/solar). In Ireland, with high winds and relatively weak interconnection, the System Operator has proposed a new payment structure for additional system/balancing services, expanding the market. This makes Ireland an ideal location for the first hybrid-powered flywheel facility before market replication throughout Europe and worldwide as renewable penetration increases in other countries.Schwungrad Energie, an Irish company, was set up to successfully develop, operate and roll out facilities to provide system/balancing services in the electricity sector. The key personnel have expertise and experience in the technical, commercial, managerial and financial areas needed for project success and commercialisation within EU and beyond. Some have previous involvement with successful FP7 projects such as MACCSol. Discussion with a small number of potential key international equity investors are on-going and considerable positive interest has been expressed to fund the project Fields of science engineering and technologyenvironmental engineeringenergy and fuelsrenewable energyengineering and technologyelectrical engineering, electronic engineering, information engineeringelectrical engineeringpower engineeringelectric power distributionnatural sciencescomputer and information sciencesdatabasesengineering and technologyelectrical engineering, electronic engineering, information engineeringelectrical engineeringpower engineeringelectric power generationsocial scienceseconomics and businessbusiness and managementbusiness models Programme(s) H2020-EU.3.3. - SOCIETAL CHALLENGES - Secure, clean and efficient energy Main Programme H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument Topic(s) SIE-01-2014-1 - Stimulating the innovation potential of SMEs for a low carbon energy system Call for proposal H2020-SMEInst-2014-2015 See other projects for this call Sub call H2020-SMEINST-1-2014 Funding Scheme SME-1 - SME instrument phase 1 Coordinator SCHWUNDGRAD ENERGIE LIMITED Net EU contribution € 50 000,00 Address 40 UPPER MOUNT STREET 00 Dublin 2 Ireland See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Ireland Eastern and Midland Dublin Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Total cost € 71 429,00
