Further funding support for Ecoult's UltraBattery
Wednesday, 15 February, 2017
Energy storage company Ecoult has secured new funding support from the Australian Renewable Energy Agency (ARENA) to enhance and fully commercialise its UltraBattery technology, originally developed by CSIRO with ARENA’s support.
Ecoult aims to use the $4.1 million in funding to increase both the utilised battery range of charge and the performance characteristics of UltraBattery energy storage systems and solutions, decreasing cost and increasing competitiveness via improved measurement, understanding and management techniques. The project will also expand the UltraBattery’s integration across multiple inverter brands and types so it can be paired with a wider range of products.
“Providing cost-effective, grid-scale energy storage solutions, our UltraBattery supports the uptake of renewable energy in Australia and abroad,” said Ecoult CEO John Wood. “The combination of its fast charge, power and energy capabilities, lower operating costs, safety, recyclability and high temperature tolerance makes it a robust technology to withstand the hot Australian climate. These capabilities are particularly significant for key applications in many parts of the developing world.
“We’re always looking at how to enhance and improve our technology through its entire life cycle and excited about what this could mean for energy storage in the future.”
This is the second round of funding Ecoult has received from ARENA, with the previous funding ($583,780, presented back in 2013) used to optimise the UltraBattery for off-grid applications. This led to the creation of the small, kilowatt-scale battery storage device known as the UltraFlex, currently being tested as a possible storage technology to bring low-emissions power to remote communities in India.
“ARENA’s early funding has helped Ecoult progress to the point where it has secured private sector investment and an international manufacturing partnership,” said ARENA CEO Ivor Frischknecht, referring to a recent deal between Ecoult and Indian battery manufacturer Exide Industries.
“ARENA’s further $4.1 million support will help Ecoult deliver on both its local and global objectives, which is a major step towards fully commercialising the UltraBattery and securing export dollars for Australian intellectual property.”
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