Liquid air energy storage enables 100% renewable energy
NEW YORK - December 3, 2018 - Highview Power, the global leader in long-duration energy storage solutions, has been named a finalist for the highly prestigious S&P Global Platts Global Energy Awards, often described as "the Oscars of the energy industry." The company's Liquid Air Energy Storage (LAES) system at the Viridor Pilsworth site near Manchester, United Kingdom, is nominated in the Grid Edge category. The innovative LAES technology delivers the reliable and cost-effective long-duration energy storage that is needed for renewable energy to displace traditional baseload power generation systems. Winners will be announced at the S&P Global Platts Global Energy Awards banquet on December 6, 2018, in New York.
"This is the time for liquid air energy storage. It provides the long-duration energy storage capacity of over eight hours and beyond that the world needs to achieve 100% renewable energy. We are honoured to be a finalist for an S&P Global Platts Global Energy Award and we appreciate the judges recognizing the impact LAES can have on the grid today by enabling baseload solar and wind power," said Javier Cavada, President and CEO of Highview Power.
Highview Power's 5 MW/15 MWh Pilsworth plant is the world's first grid-scale LAES system and was officially launched in June 2018. The facility is actively providing grid balancing services such as Short-Term Operating Reserve (STOR) to reduce consumption during winter peaks and is proving that intermittent distributed energy resources such as solar and wind can be easily integrated into the power grid when paired with long-duration energy storage. LAES systems can easily and cost-effectively scale to more than 200 MW/1.2 GWh, giving it the capacity to store days of clean renewable energy for hundreds of thousands of homes.
Highview Power's proprietary LAES technology is based on the principle of air liquefaction, which enables the easy storage of gases in cryogenic liquid form. The process involves a 700-fold expansion in volume from liquid back to gas, which releases the stored energy, powering turbines and generating electricity. This enables Highview's system to store vast quantities of energy at significantly lower lifetime costs than duration-limited energy storage resources. LAES systems offer pumped hydro capabilities to the grid but without the siting limitations and while releasing zero emissions in the process. It utilizes long-proven technology with an economic useful life of over 30 years.
The S&P Global Platts Global Energy Awards, established in 1999, highlight corporate and individual innovation, leadership, and superior performance in 18 categories spanning the entire energy complex.
About Highview Power
Highview Power is a designer and developer of long-duration energy storage solutions for utilities and distributed power systems. The company's proprietary technology uses liquid air as the storage medium and its custom designed Liquid Air Energy Storage (LAES) solutions can deliver anywhere from 20 MW/80 MWh to more than 200 MW/1.2 GWh of energy. LAES has been developed using proven components from mature industries to deliver pumped-hydro capabilities without geographical constraints and it can be configured to convert waste heat and cold to power. For more information, please visit: www.highviewpower.com