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Cost-effective battery for storage of locally produced Photovoltaic energy at residential buildings

Periodic Reporting for period 1 - HomeEnergyStorage (Cost-effective battery for storage of locally produced Photovoltaic energy at residential buildings)

Reporting period: 2017-12-01 to 2018-04-30

Renewable energies have clear benefits for the environment and society (total savings of between €42 billion per year, associated to health impact), but its full potential is still hampered by the fact that their production is not completely predictable or easily dispatchable. Effective storage solutions, which can store the energy and release it when necessary, solve the issue. Moreover, energy storage empowers the Europeans to make their own sustainable energy transition, without relying on governmental incentives or policies.
Visblue is a spin-out company of Aahrus University with the mission of combining leading scientific knowhow within the redox flow storage technology to better serve the future energy storage market. Our aim is to develop and launch a downsized vanadium-based redox flow technology (VRFB) to compete with other storage technologies, by delivering better personalization of the battery system to any end-user, lower cost on both system capacity and power, up to 3x longer battery life, and better value for the environment and for the circular economy.
By tackling the market and end-user’s challenges in relation to Visblue’s product, the SME Instrument innovation project will help us grow in competencies and know-how in the technological, manufacturing and commercial domains that are essential for the success of our VRFB-product.
During this action we have accomplished the following:
- Together with partners, Visblue engineers have complied the list of quality and performance assurance tests / standards that can be used both to CE-mark our system and to substantiate the technical superiority of VRF batteries vs. other battery technologies.
- Visblue’s executives signed demonstration agreements with companies covering our targeted markets and secured interest and support from 5 value chain members.
- Visblue engineers have calculated and analyzed the physical and economical preconditions of starting up a redox flow battery production, as well as a manufacturing plan for the full VRFB-system. This planning can be duly implemented in the next 2 years, hopefully in the scope a EU-funded innovation project.
- The analysis of current and forthcoming IPR assets ensures Freedom to Operate at least towards 2030, in all global markets.
- Visblue executive team have extensively analyzed the market conditions and trends that can be put to service of our commercialization, namely:
- - Identification of target end-users with most immediate interest to buy our product;
- - Quantification of addressable market per country and per segment;
- - Validation of countries with highest commercial potential considering endogenous factors as well as Visblue’s local market ties;
- - Assessment of the competitive landscape and the positioning of Visblue as a superior offer;
- - Quantification of Visblue’s market opportunity / forecasts in the 2021-2025 period.
Development and manufacturing of Vanadium Redox Flow Batteries is a part of an energy innovation chain that supports the European Union, as a key player in the future energy transformation process, and Visblue, as a key player in the storage innovation. This supports the transformation and development that will take place in coming years – not only to support the energy transformation in developed countries – but also to ensure balanced growth and development in developing regions, especially in Africa and Southeast Asia.
Visblue product and our CEO, Søren Bødker