The Australian Renewable Energy Agency (ARENA) has announced funding for a home-grown battery storage technology.
The organisation has committed $4.1 million to Sydney-based company Ecoult to enhance and fully commercialise its UltraBattery technology.
Originally developed by CSIRO with ARENA’s support, the UltraBattery is a hybrid lead-acid battery suited to fast-cycling, high-rate, partial state of charge functions.
“It contains both battery chemistry and ultracapacitor technology built into each cell," said Ecoult CEO John Wood.
"This Australian invention has the safety, sustainability and dependability of lead-acid, and has been shown to outperform other battery chemistries in similar applications. Since the technology is built on a proven and safe lead-acid platform, UltraBattery cells are recyclable."
He said the new funding would support the expansion of the company’s engineering team in Sydney to improve its technology to help shift dependency on fossil fuel consumption to renewables.
“Over the past 10 years, since our inception at CSIRO, and with the assistance of the critical funding from ARENA, our team has developed energy storage systems to enhance renewable adoption in Australia at the same time contributing to the global evolution in the way people and companies think about application of energy storage alongside renewable energy,” Wood said.
ARENA CEO Ivor Frischknecht said providing support for battery storage technologies like the UltraBattery was at the core of ensuring a smooth transition to a renewable energy future.
“ARENA is working hard to accelerate the energy storage revolution as part of its efforts to bring down costs and increase the reliability and security of renewable energy,” Frischknecht said.
“Storage is critical for increasing the reliability of our on-grid and off-grid power systems. It can give customers more control over their energy by storing solar through the day to use during the evening peak."
He said ARENA's funding for the technology in 2013 has helped Ecoult progress to the point where it has secured private sector investment and an international manufacturing partnership.
“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,” he said.
[A bank of UltraBatteries. Photo: Ecoult]