Innovation Norway has chosen to feature EnergyNest as one of the successful Norwegian recipients of an SME-I EU project grant.
As of March 29, 2019 EnergyNest and AC Boilers have signed a Memorandum of Understanding for the future collaboration. Our joint efforts are focusing on the implementation of the Thermal Battery technology in steam power plants (e.g. biomass, combined cycle and waste-to-energy) as well as industrial steam grids.
Steam based Thermal Batteries will boost flexibility of steam power plants – an aspect that not only will enable these power plants to balance high shares of renewables on the grid but will also increase profitability. Industrial steam grids will benefit largely from increased energy efficiencies as well as the replacement of fossil fuels with renewable energy via Thermal Batteries.
With over 150 years of experience in steam generation and burner technology and a track record of 1000 units exceeding 80,000 MW installed worldwide, AC BOILERS SpA, formerly Ansaldo Caldaie, is the largest Italian original technology Boiler Manufacturer, providing the full range of steam generator technologies (https://www.acboilers.com/en/).
EnergyNest has been awarded a SME-I phase 2 project grant by the EU Horizon 2020 program. The SME Instrument is part of the European Innovation Council (EIC) pilot that supports top class innovators, entrepreneurs and small companies with funding opportunities and acceleration services. For the first round in 2019, the application success rate was < 4%. The objective of the respective project is to demonstrate EnergyNest’s Thermal Battery system at a commercially operated power plant, where waste-heat will be recovered, stored and dispatched at the time of highest value to improve the plant’s energy efficiency and reduce its CO2 footprint. The demonstration plant will familiarize our customers with the Thermal Battery technology, establishing trust in its performance, benefits and our capabilities to execute commercial projects.
EnergyNest has developed a breakthrough Thermal Battery solution that addresses three of the EU 2020 Energy goals, namely reducing greenhouse gas emissions by at least 20%, increase the share of renewable energy to at least 20% of consumption, and achieve energy savings of 20% or more. By storing energy in the form of heat rather than electricity our technology unlocks a vast new market that has so far been largely overlooked: the Heat-2-Value opportunity. Energy-intensive industries and many thermal power plants waste large quantities of high-temperature heat. The Thermal Battery recovers, stores and discharges this heat upon demand to produce electricity, process steam/heat, district heating and even cooling. Our customers make money with the Thermal Battery by reducing their consumption of fuel and emission of greenhouse gases. Even with a conservative market uptake we can save more than 500 million tons of CO2 from 2020 to 2040.
Ultimately, coal will be replaced by renewable energy. This is fantastic! Already now coal power plants are being converted to burn biomass: Denmark’s largest power station has replaced coal with wood chips and straw.
EnergyNest offers a solution not just during the transition to fully renewable electricity but will also remain an integral part of future sustainable power systems: ultra-low cost and directly integrated into the steam cycle. Only plants with the ability to rapidly adjust power output to follow variable renewable energy will matter in the future. Due to their low marginal cost and zero emissions, wind- and solar energy are bringing conventional power plants out of their comfort zone – from traditional, rigid “baseload beasts” to peaker plants. This implies more frequent starts/stops, cycling and operation at minimum power output. It also implies more stringent requirements for ancillary services.
Thermal power plants such as concentrating solar power (CSP), biomass and electricity from waste (EfW) have an important role to play in the full transformation from fossil to renewable electricity. This is because very few alternatives can provide security of supply. Thermal power plants maintain grid stability and provide power when the wind is not blowing and the sun is not shining, ensuring that the lights are always on.
Our CEO Dr Christian Thiel attended Cleantech Summit Energy Transition in Rotterdam today. The summit is an initiative of the Tech Tour and the International Venture Club (IVC) and was hosted by the City of Rotterdam. It focusses on showcasing the best investment opportunities within the cleantech industry in Europe. The event included insightful discussion panels and keynotes and Christian even got to meet the King of the Netherlands.