Zinc-air battery-based energy storage system maker Fluidic Energy has received US$20 million in investment for projects in Southeast Asia from a private equity fund which includes the Asian Development Bank as a partner.
Asia Climate Partners (ACP), the private equity fund which has invested in Fluidic, includes Japanese financial services company ORIX and Dutch asset management firm Robeco – which is also owned by ORIX – as joint venture partners alongside the Asian Development Bank.
Headquartered in Arizona, USA, with production facilities in Indonesia, Fluidic claims its batteries are made with low cost, non-toxic materials. The company is particularly keen to target remote applications such as telecoms towers and off-grid and microgrid rural electrification projects.
Fluidic claims to have installed more than 100,000 batteries already, including 22MWh at 96 solar-plus-storage projects in the Indonesian archipelago which serve more than 100,000 people. Following the signing of an MoU earlier this year, Fluidic is also deploying some 45MWh to rural Madagascar, enabling more than 400,000 people to have access to energy. The company has also signed an agreement with heavy machinery maker Caterpillar for solar-plus-storage projects and was selected as a supplier to US utility Duke Energy’s first “non-demonstration” microgrid earlier this month.
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