The most viable stationary energy storage solution for grid applications

Project Information

Nano-Edison

Grant agreement ID: 876806

DOI

10.3030/876806

Project closed

EC signature date 11 July 2019

Start date 1 August 2019

End date 30 November 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

NANOM EHF
Iceland

Periodic Reporting for period 1 - Nano-Edison (The most viable stationary energy storage solution for grid applications)

Reporting period: 2019-08-01 to 2019-11-30

Summary of the context and overall objectives of the project

Grid stability is an increasingly challenged as power distribution evolves to a more decentralized model with progressively higher shares of renewable energies. 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 for grid-scale applications are still expensive, have limited lifespans and carry inherent risks.

By applying its patented nanotechnology, GreenVolt has developed Nano-Edison, the first BESS that meets all the criteria for grid-scale applications (safe, environmental, low-cost, scalable), simplify the associated infrastructure and provide key grid balancing services. The achievement of these objectives is perfectly aligned to current smart grid challenges to achieve safer, cleaner and more competitive electricity supply, enabling thus the transition towards renewable energies.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Technical upgrades have been defined and scheduled, including testing and validation stages, and an industrialization route. Commercial strategy has been confirmed based on the urgent needs of grid-scale BESS by transmission and distributor system operators, upward trend of the involved markets, and absence of both direct competitors and conflicts with IPR. We performed a risk assessment to make sure that the most relevant risks are identified and set a contingency plan. We also valued participation in related-events as strategy to attract new clients and partners. Revenue streams, pricing and cost revision were established, resulting in a business opportunity for Greenvolt of 5-year estimated profitability of 32.8 M€ (ROI = 10.7) and 30 new employees.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Owing to its disruptive nanotechnological design, Nano-Edison battery offers: (i) specific power ≥200W/kg, (ii) charge/discharge efficiencies over 99.9%, (iii) depth of discharge of 100% (vs. 80% of Li-ion and lead-acid batteries) (iv) service life of 20,000 cycles (x8 higher than Li-ion batteries) and (V) very competitive manufacturing costs <90 €/kWh (comparable to pump hydro-storage). In addition, Nano-Edison is extremely tolerant to fire/explosion hazards and made of non-toxic materials. The result is a solution that can answer European grid challenges of reduce costly fluctuations in frequency, voltage and power flow cause by the progressively more decentralized model and with higher shares of renewable energies.

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