Carbon Neutral Energy (CNE), a UK company which has developed mobile, modular energy storage systems for renewable energy, is expanding into the US.
The company says that it is seeing huge demand for its mobile energy storage systems, which are designed to meet the challenge of storing and using electricity from renewable sources, so is fast-tracking its overseas expansion. CNE is aiming to become a ‘significant player’ in the mobile green battery storage market. It is seeking to raise funds of £300 million (€349 million) to ensure it has the capital to exploit new opportunities, has made several executive and non-executive appointments, and is now exploring locations for its first overseas base in Texas.
CNE’s mobile, modular energy storage systems have large capacity battery storage, from 1-5 MW. Its mobile units are made up of a suite of smaller, static modules that can be combined to create ‘mega storage banks’. These could be customised to meet any size of power requirement, potentially to gigawatt scale. The storage systems help to solve the problem of intermittency in renewables and balance the grid, increasing green electrification and assisting efforts to reach net zero carbon.
The batteries can also help to prevent loss of power in emergencies, such as happened during the severe Texas winter storms in early 2021. Damages caused by the blackout cost an estimated US$195 billion, according to CNE sales director Philip Patterson.
‘Battery storage is a vital in balancing the grid. Without storage, power emergencies such as those in Texas could occur again across the globe. With ongoing climate change, these events could become more frequent, so we believe the time to act is now and are getting into the US market early. Our vision is that our product range will help achieve greater efficiencies and build resilience into the Texas grid,’ Patterson says.