Highview Power has developed a modular cryogenic energy storage system that is scalable up to multiple gigawatts of energy storage and can be located anywhere.
According to the UK company, the CRYOBattery is the “world’s first” giga-scale cryogenic battery and reaches a new benchmark for a levelized cost of storage (LCOS) of $140/MWh for a 10-hour, 200 MW/2 GWh system.
Highview Power said the system is equivalent in performance to, and could potentially replace, a fossil fuel power station, and can enable renewable energy baseload power at large scale, while also supporting electricity and distribution systems and providing energy security.
“This is a pivotal moment for the renewable energy industry and for anyone who wants to deploy large amounts of renewables,” said Javier Cavada, President and CEO of Highview Power.
“As more and more renewables are added to the grid, long-duration, giga-scale energy storage is the necessary foundation to make these intermittent sources of power reliable enough to become baseload.”
“Not only does our CRYOBattery deliver this reliability and allow scalability—it is proven, cost-effective, and available today.”
Cavada said Highview Power’s CRYOBattery can enable grid operators to maximise renewable penetration without needing fossil fuel generation to make up for intermittency.
“This makes replacing gas peaker power plants with a combination of solar, wind, and energy storage a viable reality and truly sets the stage for a future where 100% of the world’s electricity comes from clean energy sources,” he said.
Highview Power has partnered with Finland-based Citec to modularise its gigawatt-scale cryogenic energy storage system.
With a simplified design and streamlined engineering from Citec, a standard CRYOBattery configuration of 50 MW/500 MWh can be easily, and cost-effectively, scaled up to multiple gigawatt hours.