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Nanotechnology for Advanced Battery Energy Storage Systems

Project description

Nanomaterials for improved battery energy storage systems

The EU supports energy storage innovation so that electricity consumption and generation – at any moment in time – are perfectly matched. This balance is key to maintaining a stable supply of electricity. Energy storage can help by saving large quantities of excess electricity. While battery energy storage systems are emerging as potential solutions, mature technologies (lead-acid, sodium-based and lithium-ion) are expensive, have limited lifespans and carry inherent risks. The EU-funded Nano-Edison project applied nanotechnology to develop a new battery energy storage system that replaces the iron and nickel solid plates of the traditional Edison battery with iron and nickel nanomaterials. Compared to other alternatives on the market, it offers increased durability and the lowest production costs.

Objective

Energy storage is an increasingly challenge as power distribution evolves to a more decentralized model with progressively higher shares of renewable energies (RE). Battery energy storage systems (BESS) are emerging as potential solutions to increase system reliability, due to their unique capability to absorb, hold and reinject electricity, as well as offer ancillary grid services. However, mature BEES technologies (e.g.; lead-acid, sodium-based and lithium ion) are still expensive, have limited lifespans and carry inherent risks.
By applying nanotechnology, Greenvolt has developed Nano-Edison, a disruptive BESS that meets all the performance and criteria to couple with RE mini-grids of commercial, industrial and residential customers. Nano-Edison solution replaces the iron and nickel solid plates of the traditional Edison battery by Fe and Ni nanomaterials, retaining all original advantages (robustness, durability and safety attributes), while solves the associated downsides (manufacturing costs, low efficiency, high size and excessive weight). Compared to other alternatives, Nano-Edison offers an improved durability (+20,000 cycles), environmentally safe performance (no flammable, no acid, non-toxic metals) and the lowest production costs in the market (87 €/kWh vs. 350 €/kWh for Li-ion).
Our developed and patented method for producing quality nanomaterials ensure a solid commercial proposition, that Greenvolt will monetise by licensee fees (≈300 k€/year), royalty fees (0.5% on sales) and nanoparticles supplying (89 €/kg) to large battery manufacturer partners. We expect that Nano-Edison unique selling point will enable a profitable business model that will boost the growth of Greenvolt with 5-year accumulated profits surpassing 40 M€, ROI of 8 and the creation of +56 new positions. Likewise, by providing more efficient and cost-competitive BESS, Nano-Edison will help society to make a better use of variable and decentralised renewable energy sources.

Call for proposal

H2020-EIC-SMEInst-2018-2020

See other projects for this call

Sub call

H2020-EIC-SMEInst-2018-2020-4

Coordinator

NANOM EHF
Net EU contribution
€ 1 328 709,37
Address
BJARGARGOTU 1
101 REYKJAVIK
Iceland

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Ísland Ísland Höfuðborgarsvæði
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost
€ 2 680 312,50

Participants (1)