EnergyBank is a New Zealand startup pioneering a novel battery technology for medium and long-duration energy storage.
EnergyBank will allow energy generators and owners to smooth the supply and demand of renewable energy, reducing the need for fossil fuels to meet peak grid demand and enabling price-optimisation of renewables themselves. EnergyBank will offer a compelling storage proposition to renewable generators, enabling them to efficiently store excess energy not needed at the time it is generated. The technology works by moving multiple thousand-tonne masses back and forth between the ocean floor and its surface over vertical distances of between 4 and 8km. This process requires no land, has little accident risk, and is lower-cost, more scalable and more environmentally friendly than existing solutions like pumped-hydro and lithium-ion batteries.
Read more in our Investment Notes.