Two British companies have been awarded over £8million to spur on innovation in storing energy, Energy Minister Greg Barker announced today. The contract has been awarded to a partnership of Viridor Waste Management Ltd and Highview Power Storage, as part of the Department of Energy and Climate Change’s innovation competition to support energy technology research and development.
Viridor and Highview will use the funding to develop a technology to store air in a liquid format, which can then be used to supply electricity at times of high demand. The technology will be connected to the National Grid, and will be used to test balancing supply and demand using stored energy.
Energy Minister Greg Barker said: “Storing energy will become increasingly important in the move towards a low carbon economy, and has the potential to save the energy system over £4 billion by 2050.
Gareth Brett, CEO of Highview Power Storage, said: “By selecting to fund the demonstration of Highview’s Liquid Air Energy Storage system, DECC has given a British company a great opportunity to begin commercialising a home grown, innovative technology that has the potential to make a major contribution in terms of helping balance electricity systems in the future.
Viridor’s Landfill Energy Director, Ian Morrish said: “We are pleased to have secured funding for this important project. With ever growing pressure on natural resources, it is essential that we develop innovative and sustainable methods to generate and store energy not only to cut down our carbon footprint but to ensure long-term energy security.
