Lead-acid ‘super battery’ manufacturer Ecoult will be aiming to bring its product to large-sale production after winning further backing from the Australian Renewable Energy Agency (ARENA).
The Australian firm will receive AUS$4.1million (US$3.13million) in new recoupable funding from ARENA as its looks to expand into international markets.
The funding follows a global manufacturing deal with India’s Exide Industries— a deal that will see the firm’s technology manufactured and distributed in India and South Asia.
This latest round of finacing will support a AUS$10.6 million ((US$8 million) drive by Ecoult to improve its UltraBattery and push for large-scale commercialisation.
ARENA CEO Ivor Frischknecht said: “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.
“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.”
Ecoult CEO John Wood said ARENA’s new funding would also support the expansion of the company’s engineering team in Sydney.
ARENA supported the development of the UltraBattery by Commonwealth Scientific and Industrial Research Organization (CSIRO10 years ago.
It then granted Ecoult AUS$583,780 ($448.949) in 2013 to continue development of the technology.