SUSTAINABILITY, INDUSTRY UPDATES
Our Next Energy, Inc. (ONE) | February 24, 2023
On February 23, 2023, Our Next Energy, Inc. (ONE) announces Aries GridTM, a lithium iron phosphate utility-scale battery system capable of long-term energy storage. Aries Grid, manufactured in the United States, represents a significant milestone in efforts to scale up investments in renewable energy infrastructure and grid resilience.
Tools have been introduced by the IRA that allows ONE and its customers to leverage product cost offsets and federal investment tax credits for the development of Aries Grid. This support enables using Aries Grid and renewable energy technologies to offer baseload generation, previously considered cost-prohibitive in many markets.
Aries Grid, which utilizes ONE's Aries transportation 79-kWh battery pack, can be customized into 2-, 3-, and 6-MWh modular units. The system utilizes LFP cathode chemistry, which is more durable and has twice the lifetime energy throughput of the commonly used cobalt, nickel, and manganese (NCM) chemistries in stationary energy storage systems in the United States. The system can discharge power over 4 to 12 hours, making it ideal for establishing a renewable microgrid that can deliver a 24x7 firm capacity baseload to power data centers, factories, and communities.
About Our Next Energy, Inc. (ONE)
ONE is an energy storage company based in Michigan focusing on developing battery technologies that can speed up the adoption of electric vehicles and enhance energy storage solutions. In addition, the company aims to double the range of electric vehicles, making them more competitive with traditional gasoline-powered cars in terms of performance and capacity. Such a milestone would be a significant step forward in the transition to electric transportation, as range anxiety remains one of the main concerns for potential EV owners. Additionally, ONE seeks to establish a localized supply chain to minimize transportation and logistics costs and support local economies, which could reduce the carbon footprint of its products.
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SOLAR+STORAGE
CPS Energy | February 10, 2023
On February 09, 2023, CPS Energy, a utility company, reached agreements with three companies, completing its FlexPOWER Bundle initiative, which was released as a Request for Proposal (RFP) in 2020.
This initiative will deliver 580 megawatts (MW) of solar, 500 MW of natural gas and 50 MW of storage capacity of green energy. In addition, CPS Energy will release a separate RFP for adding 320 MW of solar capacity, including solar community proposals, and update its generation portfolio. Regarding the agreements, Calpine, a power company, will provide approximately 500 MW of firming capacity; Ashtrom Renewable Energy firm, in collaboration with OnPeak Power, will provide 100 MW; and green energy investor Eolian will grant exclusive rights for 50 MW of energy storage.
San Antonio Mayor, Ron Nirenberg, said, "When we launched the FlexPOWER Bundle, we cast an international net to see what new technologies we could procure for our community." He added, "These last three agreements signify years of hard work and will provide reliable generation to our community. We look forward to our new partnerships and what they will mean for the City of San Antonio."
(Source – Cision PR Newswire)
President and CEO of CPS Energy, Rudy D. Garza, said, "Securing these last three agreements marks the end of a more than two-year long process that the CPS Energy team has been working diligently on." He added, "The FlexPOWER Bundle was created to further diversify our generation mix, which we have accomplished, and we look forward to continuing to add solar capacity to our portfolio with a new 320 MW RFP to be launched in the coming months."
(Source – Cision PR Newswire)
About CPS Energy
Headquartered in San Antonio, Texas, CPS Energy, a municipally owned electric and natural gas company, is providing secure, affordable services across the Greater San Antonio area. It focuses on job creation, educational investment, clean energy investment, and economic development as a community partner. With employees' volunteerism and commitment to the community, it has conducted programs that add value to the customers, offering reliable power along with sensitivity towards the environment. Its partners include companies working for clean energy, efficiency, and innovation, especially in solar power. It specializes in the fields of public utilities, renewable energy, electricity, and natural gas
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INDUSTRY UPDATES
TAE Technologies | January 25, 2023
On January 24, 2023, TAE Technologies, a privately-held fusion energy company, announced the creation of a new subsidiary, TAE Power Solutions. It is TAE Technologies' second subsidiary developed for fusion research innovations, with TAE Life Sciences being the first.
The subsidiary plans to introduce a novel technology that significantly increases the dependability, longevity, effectiveness, and affordability of electric-powered products, from renewable energy storage to vehicles. The proprietary technology platform, derived from fusion research, is a crucial development in implementing intermittent renewable energy as dispatchable power and the widespread adoption of electric vehicles.
The company is launching with a team of industry experts led by Kedar Munipella, who has been named Chief Executive Officer. Kedar Munipella previously worked at Applied Materials for 16 years, recently serving as Vice President and General Manager of a business unit focused on energy and environmental solutions.
TAE Power Solutions has also made two strategic acquisitions in the UK to boost its entry into new markets: Eltrium, a design and manufacturing company specializing in the manufacturing of energy storage systems, power distribution, and electronic assemblies, and Sprint Power, one of Europe's most prominent transport electrification specialists focusing on electrical system integration and high voltage driveline. These acquisitions allow the company to gain an early foothold in existing projects like the APC18 CELERITAS, a program focused on advanced battery systems with various project partners, including BMW.
TAE Power Solutions' combined workforce of over 250 professionals based in California brings extensive domain knowledge and long-standing OEM relationships, positioning the company to become a leading player in emerging power management technologies.
Kedar Munipella, CEO of TAE Power Solutions, shared, "Spinning off TAE's power management division is an extraordinary opportunity to bring the bold innovations of fusion-derived technology into new applications with profound impact." He added, "We expect our significant improvements to electric vehicle battery life, performance, and cost, along with the ability to convert wind and solar into on-demand sources of energy, will transform the future of electrification, creating opportunities for unprecedented efficiencies in e-mobility and energy storage."
(Source – PR Newswire)
About TAE Technologies
Headquartered in Foothill Ranch (California), TAE Technologies was established in 1998 to develop commercial fusion power with the lowest environmental impact. The company's pioneering work represents the most efficient, practical, and cost-effective way to bring abundant clean energy to the grid. It aims to deliver a transformational energy source capable of sustaining the planet, with more than 1,100 patents, $1.2 billion raised in private capital, five generations of National Laboratory-scale devices constructed, and an expert team of more than 400 employees. Mission-driven and multidisciplinary by nature, TAE is utilizing proprietary science and engineering to build a better future.
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