Highview Power has developed a modular cryogenic energy storage system that is scalable up to multiple gigawatts of energy storage and can be located anywhere.
According to the UK company, the CRYOBattery is the “world’s first” giga-scale cryogenic battery and reaches a new benchmark for a levelized cost of storage (LCOS) of $140/MWh for a 10-hour, 200 MW/2 GWh system.
Highview Power said the system is equivalent in performance to, and could potentially replace, a fossil fuel power station, and can enable renewable energy baseload power at large scale, while also supporting electricity and distribution systems and providing energy security.
“This is a pivotal moment for the renewable energy industry and for anyone who wants to deploy large amounts of renewables,” said Javier Cavada, President and CEO of Highview Power.
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