Canadian energy storage firm Eguana Technologies has been approved to take part in a residential batteries scheme in the state of South Australia.
Eguana is to produce its ‘Evolve’ home battery systems in the state as part of the programme— which is backed by AUD100 million (US$72.5m) in subsidies and low interest loans to encourage residential storage.
Evolve features lithium-ion battery tech provided by South Korea’s LG Chem. Eguana started integrating LG Chem’s JH3 cell technology into its AC Battery energy storage system portfolio in 2017.
State trade, tourism and investment minister David Ridgway said his department had “been working with Eguana for some time now to attract them to our state and this investment is further proof that South Australia is indeed the heartland of renewables in our country”.
Eguana CEO Justin Holland said South Australia was a key market for the company, and the home batteries scheme “will open up the largest demand market in the world”.
The Evolve product has been tested and recently endorsed by Mercedes Benz Energy and is designed with “full grid services capabilities”, Eguana said.
BEST Battery Briefing reported earlier this month that German battery storage company Sonnen had become the first provider to benefit from the South Australia home batteries scheme, after it announced plans to manufacture its lithium iron phosphate battery storage systems at a former car manufacturing plant in the state.