RFC Power expands its partnership with Ceres to accelerate the development of its unique flow battery technology.
RFC Power is developing the world’s lowest cost flow battery, a disruptive grid scale energy storage solution to the intermittency challenges arising from the increased use of renewable energy. Following an initial agreement in 2021 to develop and validate RFC Power’s core flow battery technology, Ceres has now increased its investment in RFC Power and has an option to acquire the outstanding share capital of the company in 2024.
RFC Power’s rechargeable redox flow battery – a hybrid between a fuel cell and a battery – stores energy highly efficiently at high energy density using a patented hydrogen manganese chemistry with core materials that are abundant, inexpensive and non-toxic. After achieving impressive milestones in 2022, including 1kW of continuous discharge power, RFC Power is gearing up to demonstrate a complete system and to accelerate the technology to a commercial scale.
Long duration energy storage (LDES) is an essential requirement for the transition to a zero-carbon future. LDES technologies smooth the peaks and troughs of intermittent renewable energy supply and fluctuating demand enabling reliable zero carbon electricity supply – releasing solar power at night, or storing wind power for a up to a month.
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The Long Duration Energy Storage Council estimates that the world’s electricity grids will need to deploy 85-140 TWh of long duration energy storage by 2040 with a market potential of USD 1.5 to 3 trillion.
Mark Selby, Chief Innovation Officer of Ceres and a Director of RFC Power commented:
RFC offers a long duration, high energy density, and high efficiency grid scale battery technology using inexpensive and readily available materials.
“In the 15 months we have been working together, I have strong conviction in the technology and am extremely excited to see what our future partnership holds.”
Tim von Werne, Chief Executive of RFC Power added:
In 2022 we successfully demonstrated more than 1kW of continuous discharge power and we are confident of hitting further milestones in 2023 with the support of Mark and the Ceres team.
“Energy storage has an essential role in the transition to a low carbon energy system, and our partnership with Ceres brings much needed engineering and commercial expertise to bridge from technology development to market scale.”
Highlights:
- RFC Power continues to hit key milestones towards commercialisation
- Ceres has increased its stake in RFC Power
- World’s electricity grids could require as much as 85-140 TWh of long duration energy storage by 2040
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RFC Power expands its partnership with Ceres to accelerate the development of its unique flow battery technology, London, February 3, 2023
