The need for Long Duration Energy Storage (LDES) is now growing rapidly. The growth of solar and wind power, smart grids, and microgrids are all driving this growth. Even today we must constantly match electricity demand to consumption, a task that is becoming increasingly difficult and costly as we move to more renewable energy and phase out fossil fuels.
As renewables become a larger share of the generation mix, the only solution going forward is cost effective energy storage. The global market demand for storage is estimated to be greater than $500 Billion by 2030. However, the main challenge is that we still do not have a low-cost, safe, and highly durable means to store electricity that will enable ubiquitous storage.
WattJoule is addressing this huge market opportunity with ElectriStor™ a next generation Vanadium Redox Flow Battery (VRFB) enabling a 50% cost reduction with increased performance. ElectriStor™ can be adopted and deployed by any existing VRFB supplier that wants the benefits our platform offers.