CellCube Energy Storage Systems will partner with energy solutions company Immersa UK to explore large-scale energy storage solutions.
CellCube stock grew by 8 percent Thursday (January 31) afternoon following the announcement.
Specializing in vanadium redox flow batteries for large-scale storage, CellCube is the only vertically integrated company that mines vanadium and produces end-result storage units.
UK-based Immersa provides solution- and technology-based environmental consulting for businesses. Immersa’s key aim is offering clients renewable energy solutions that can also offer return on investment through revenue generation by feeding unused green energy back into the national grid.
Vanadium redox flow batteries are increasingly being used in both large-scale commercial and residential energy storage systems as a safer more durable option than lithium ion-based systems and offer years of energy storage potential.
The vanadium used in the units can also be recycled at end of product life, with little to no degradation.
“We are delighted to be working with Immersa on many large-scale projects together,” CellCube President Stefan Schauss told the Investing News Network.
”We are anticipating that CellCube together with its partner Immersa will be able to accelerate adoption of redox flow storage-based in a post-Brexit environment,” he added.“Businesses and communities alike will want to secure their power supply while obviously taking advantage of the new benefits that storage combined with renewables can deliver.”
The goal of vanadium redox flow battery integration is to provide stable, clean energy throughout its grid, whether it’s a country-wide structure or a smaller unit powering a neighborhood.
Incorporating vanadium battery storage has a demonstrable ability to reduce costs in the enhanced frequency response and firm frequency response markets, dynamic services that adjust the amount of active power available in correlation to demand and frequency.
“The capacity driven markets in the UK with its many solar and wind farms is our next focus market to enable large-storage infrastructure projects in their neighborhood delivering high value streams to asset owners,” Schauss said in the company announcement. “Immersa and CellCube are inviting potential clients to jointly talk about options and benefits that are available through renewable energy and battery storage solutions.”
Immersa, which has been in the business since 2016, has seen consumer needs shift in recent years with a unique focus on increasing energy autonomy.
“We see a definite move towards longer duration batteries as energy users look to become more independent from the grid,” said Robert Miles, CEO of Immersa. “We have designed systems that used multiple generation technology and by installing in combination with these long duration batteries, we have shown that it is both possible and commercially feasible to generate, store and consume power that has been self-produced.”
As the countdown to Brexit enters day 57, strategic partnerships like the one between CellCube and Immersa will become increasingly important to ensure the country is able to deliver an uncompromised steady energy supply.
CellCube shares were trading 4 percent higher on Friday (February 1), at C$0.13.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.