Increased energy efficiency, flexibility and reduction of green-house gases using thermal battery
EnergyNest has developed a breakthrough Thermal Battery solution that enables a step-change in improved efficiency, flexibility, and environmental performance for the power and industrial manufacturing sectors. By storing energy in the form of heat rather than electricity our technology unlocks a vast new market that has so far been largely overlooked. Energy-intensive industries and several types of thermal power plants emit large quantities of high-temperature heat. Recovered, stored and discharged upon demand high-grade heat can be used to produce high-value energy in the form of electricity, process steam/heat, district heating and even cooling which would otherwise have to be produced from fuel combustion, hence reducing fuel consumption and GHG emissions. The potential cumulative CO2 savings for these sectors is greater than 500 million tons between 2020-2040. Our solution offer strong business cases with IRRs in the range of 20–40% in a market estimated to be greater than 7 billion € per year in Europe.
Expected results of the project: demonstrate the EnergyNest Thermal Battery system at a plant where waste-heat from a kiln will be recovered, stored and used to supply steam, thus reducing fuel consumption within the plant. The demonstration will familiarize our future customers to the Thermal Battery, establishing trust in its performance, benefits and our capabilities. The project will activate an European supply chain, with steel fabrication in The Czech Republic/Romania, concrete fabrication in Germany, prefabrication of Thermal Battery Modules in the Netherlands, and local engineering services in Norway and Spain