Sumimoto Heavy Industries invests $46m in liquid air energy storage

The new funding will accelerate Highview Power’s cryogenic energy storage expansion globally

The Big Zero report

Liquid air energy storage firm Highview Power has landed a $46 million (£35.6m) investment from Japanese manufacturing company Sumitomo Heavy Industries (SHI).

Highview Power has been seeking funds to extend its cryo-battery technology, which cools air to -190°C, stores it as a liquid and then converts it into a pressurised gas which drives turbines to produce electricity when released under pressure, generating clean power.

Tomas Harju-Jeanty, CEO at SHI daughter company Sumitomo SHI FW (SFW) said: “One of the biggest barriers to a carbon-free future has been the ability of renewables to perform as reliably as, and as cost-effectively as traditional fuel sources.

“Highview Power’s long duration energy storage technology not only solves the problems that enable dispatchable renewables but will be a catalyst in bringing the energy transition forward.”

Javier Cavada, President and CEO of Highview Power, said “By partnering with a large technology company with the reputation of SHI, we will be able to benefit from their vast know-how, resources, and operating experience in diversified markets.”

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