Electrical energy storage (EES) is a fundamental enabler to the deployment of renewable energy and provides cost-savings in other markets. The market is projected to grow from 1.1 GW in 2016 to 21.6 GW in 2025. Pumped hydroelectric storage (PHS) accounts for 98% of global energy storage, however they are geographically limited, environmentally impactful and require huge upfront costs. Other state-of-the-art solutions available in the market i.e. batteries for EES cannot scale-up to meet the demands on the electrical grids and networks. This results in an underutilisation or ineffective use of renewable energy sources.
Teraloop has created a highly scalable, kinetic energy storage system, which draws upon proven technologies including flywheel energy storage, magnetic levitation and brushless motors. The scalability of the product means it can be applied in various scenarios offering unparalleled EES flexibility. Commercially, the system will operate underground, presenting a minimal visual and environmental footprint.