RheEnergise is one of only a select handful of businesses to have been awarded grants under both the Sustainable Innovation Fund & the Small Business Research Initiative.
RheEnergise is bringing innovation to pumped energy storage and developing a technology that solves the many disadvantages of other competing energy storage and grid flexibility solutions. The awarded grants are supporting a feasibility study into a £1.6m demonstration project with full system functionality specifically designed for use with the RheEnergise high-technology fluid taking the extensive theoretical and practical learning to the next level. For further information see the IDTechEx report on Potential Stationary Energy Storage Technologies to Monitor.
The UK’s Climate Change Committee states that energy storage is the key enabler necessary to achieve a net-zero carbon energy system however there is nowhere near enough energy storage for a zero-carbon energy system that includes transport, power and heat. Unlike traditional pumped hydro energy storage, RheEnergise’s HD Hydro operates on small hills rather than mountains meaning there are infinitely more sites available for projects.
The Business Secretary Alok Sharma said: “The UK’s response to coronavirus has demonstrated the very best of British ingenuity, and it is this resourcefulness that will help us navigate our way through this pandemic. Today’s investment will ensure that our innovators and risk-takers can continue to scale up their ideas, helping the UK to build back better and ensure we meet our clear commitments on tackling climate change.”
Innovate UK Executive Chair Dr Ian Campbell said: “In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy. RheEnergise’s energy storage innovations, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development.”
Stephen Crosher, RheEnergise’s CEO said: ‘Society needs energy storage to match the intermittent supply of renewables with the variable demand by consumers. These awards by Innovate UK will make a significant difference to RheEnergise, to accelerate the time it takes to bring our High-Density Hydro innovations to market and our goal of developing the lowest cost energy storage solution available.’
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