Altech Batteries Ltd (ASX:ATC) has unveiled the preliminary battery specifications for its CERENERGY® 60 KWh (ABS60) and 1 MWh (ABS1000) GridPack battery products.
The specifications, developed in collaboration with joint venture partner Fraunhofer IKTS, are aimed at meeting the evolving needs of the renewable energy and grid storage market.
Reliable and efficient
Grid storage batteries have become crucial for balancing energy supply and demand in the face of increasing reliance on renewable energy sources.
The company believes its CERENERGY battery products offer a reliable and efficient solution to address the intermittent nature of renewable power generation.
Altech's battery specifications cater to commercial applications as well as larger-scale grid-level storage and industrial power backup – with capacities from 60 KWh (ABS60) to 1 MWh (ABS1000).
One of the key advantages of Altech's GridPacks is their ability to operate in all weather conditions. The batteries are designed to be fireproof and suitable for multiple cycles per day and have the lowest energy storage cost compared to traditional lithium-ion batteries.
Huge global market
The demand for grid energy storage is expected to enjoy a compound annual growth rate of 28% in the coming decade, with the global market projected to reach US$15.1 billion by 2027.
In addition to addressing the intermittent nature of renewable power, grid storage batteries also play a vital role in mitigating wastage.
In Germany, excess renewable power discharged to the ground amounts to around EUR2 billion annually. By efficiently storing and using surplus renewable energy, Altech's GridPacks help to reduce this waste and ensure a stable power supply.
Stackable and silent
Unlike other mega battery pack designs, Altech’s GridPacks can be safely stacked on top of each other, eliminating the need for additional shelters or buildings. This design, coupled with their 'plug and play' feature, makes them a compact choice for battery energy storage solutions.
GridPacks are also constructed using a sea container design, facilitating their transportation by sea or road to the installation site. They can be safely installed outdoors, thanks to their complete protection from dust and external environments.
The absence of moving parts, such as cooling fans, in the GridPacks ensures maintenance-free and noise-free operation. This feature addresses concerns raised by end-users about the noise generated by mega battery packs and makes the GridPacks suitable for remote and noise-sensitive environments.
The release of these preliminary specifications marks a significant milestone for Altech, enabling the company to initiate discussions with potential offtake partners and secure future sales in the rapidly growing grid storage battery market.