Green power requires investment in green storage
Green energy storage plays a crucial role in the transition to a sustainable energy system. With the increasing integration of renewable energy sources such as solar and wind, the need for reliable energy storage becomes increasingly critical to accommodate variability in energy production. We are pleased to announce that AQUABATTERY, a leading Dutch startup in long-term energy storage, has successfully completed a €6 million investment round, in which Invest-NL is participating for €1.5 million.
This financing, led by EIT InnoEnergy together with co-investors such as InnovationQuarter and Invest-NL, provides AQUABATTERY seed financing for their mission to realize affordable and sustainable energy storage on a large scale. Long-term energy storage, as developed by AQUABATTERY, provides a solution to safely store energy for extended periods of time, which is essential to ensure the reliability and stability of the energy grid.
AQUABATTERY's innovative technology, which uses non-scarce and non-toxic materials such as water and table salt, embodies a breakthrough in green energy storage. This technology offers not only an environmentally responsible choice but also a cost-effective approach to long-term energy storage, crucial for solving grid congestion and accelerating industrial decarbonization.
Our investment in AQUABATTERY underlines Invest-NL's mission by supporting entrepreneurs with good plans that accelerate the transition to a sustainable society. This fits within our strategy to make innovative solutions fundable that contribute to a more sustainable world.
Bram Sprangers, Investment Manager at Invest-NL: "The energy transition will benefit significantly from innovative solutions such as those offered by AQUABATTERY. Long-term energy storage will undeniably play a crucial role as a foundation for the integration of renewable energy sources into the power grid."
The ROM Range Extender will be used for this investment, working closely with regional development agencies.
Source: Invest-NL
