Draft:Elestor
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| Company type | Private |
|---|---|
| Industry | Renewable energy |
| Founded | 2014 |
| Founder | Wiebrand Kout |
| Headquarters | Arnhem, the Netherlands |
Key people |
|
| Products | Hydrogen Flow battery |
Number of employees | 60 |
| Website | elestor |
Elestor B.V., founded in 2014, is a Dutch company specialized in the development and deployment of large-scale, long-duration and affordable energy storage (LDES) solutions using hydrogen-based flow batteries. These innovative batteries operate through an electrochemical process involving two active materials separated by membrane stacks, allowing protons to move and store or release energy during charging and discharging. Designed for efficiency, scalability, and cost-effectiveness, Elestor's batteries can be installed worldwide to support the growing demand for renewable energy.[1] Elestor's technology is capable of storing energy for durations ranging from 8 to over 100 hours. This extended storage capability is essential for stabilizing power grids and maximizing the efficiency of wind and solar energy resources, addressing the intermittency challenges of renewable energy sources. By providing long-duration energy storage solutions, Elestor supports the integration of renewable energy into the grid, helping to ensure a reliable and consistent energy supply.[2]
Elestor's technology has the potential to replace fossil fuel power plants at a gigawatt-hour (GWh) scale, functioning as "bi-directional power plants."[3] This technology is designed to provide large-scale, long-duration energy storage, and could play a role in the energy sector similar to that of lithium-ion batteries in the mobility industry. By enabling the storage and dispatch of renewable energy on a large scale, it offers a sustainable alternative to traditional power generation methods.
Elestor has attracted prominent investors, including Equinor, Vopak, and Koolen Industries, along with climate-focused investment funds and government bodies that support sustainable technological advancements. These partnerships are helping Elestor expand its operations and contribute to the energy transition. The Amsterdam Centre for Business Innovation (University of Amsterdam) recognized Elestor as one of the 10 most innovative companies in the Netherlands. The company has completed several pilot projects and is planning to launch its first commercial products by 2025, focusing on long-duration energy storage solutions.[4][5]
Acknowledgements
[edit]2015 - Challenge Cup for Best Pitch. KIC InnoEnergy Benelux introduced this challenge believing that a product doesn't sell itself, the way it is sold is equally important. In the first year of organizing this ceremony the prestigious trophy was awarded to 'Elestor'.[6]
2016 - Jan Terlouw Ambition Award. The Jan Terlouw Award ceremony is traditionally on the agenda of the annual Kiemt conferences. The jury consists of 4 industry experts from the Kiemt network and is presided by Dutch politician, physicist and author Dr. Jan Terlouw. The award is granted to the company that has introduced the most promising innovative solution in the field of Energy and Climate, having a high market potential. The purpose of the Award is to support its commercialization, to help the winner in making further steps, and to put the innovation on the map. As one of the 3 finalists for this award in 2016 the jury decided to grant Elestor. With 58,8% of the audience's votes – a marked majority – also the 'Public Award' went to Elestor.[7]
2016 - Sustainable Energy Startup Award. The competition is launched by Sweco believing that the start-ups can play an important role in the transition from conventional to sustainable energy. The aim of the competition is to stimulate developments in the field of sustainable energy. After presenting their concept to an expert jury, Elestor was selected as the winner.[8]
2017 - Best Technical Development in Energy Storage. Elestor received the award for Best Technical Development in Energy Storage at the annual IDTechEx Europe event, held in Berlin, Germany.[9][10]
2019 - Pearl of the Region - The Economic Board. On December 19, Elestor received the 3D-printed Pearl award from The Economic Board director Sigrid Helbig.[11]
2021 - Innovation 2020 Audience Award - Chamber of Commerce - The KVK's main statutory tasks are to operate the official national Business Register and provide businesses with information and advice. Elestor was voted by the general public as the Best Innovation in the 2020 edition of the Dutch Chamber of Commerce competition.[12]
2021 - Best Energy Stroage Solutions Provider 2021 Benelux Enterprise Award – This acclaimed program is dedicated to elevating and applauding the standout achievements within the vibrant Benelux business community.[13] Elestor is one of the 2021 winners of Benelux Enterprise Awards.[14]
2021 - TOP10 Dutch Innovation Award Amsterdam Centre for business Innovation (University of Amsterdam) – In 2021, The University of Amsterdam's Centre for Business Innovation ranked Elestor as one of the ten most innovative companies in the Netherlands, in the Dutch Innovation Award competition, which included 600 companies.[15]
2022 - The Offshore Wind Innovators Awards – These awards are organized by TKI Wind op Zee in the Netherlands to reward innovative contributions to the offshore energy transition. Both the jury and the audience declared Elestor the winner of the Offshore Wind Innovators Awards 2022. The jury was unanimous in their top 3 with Elestor, FLASC and TechBinder.[16][17][18]
2023 - ees AWARD - Elestor won the ees AWARD 2023 for its storage solution. The panel was particularly impressed with Elestor's batteries because of their unique chemical composition, low energy costs, and scalable design. These batteries have the potential to contribute to a CO2-neutral future by providing a cost-effective and sustainable way to store energy.[1]
Funding round
[edit]Elestor, secured a €30 million Series A funding round in 2022 led by Equinor Ventures, the corporate venture capital arm of the Norwegian energy giant Equinor.[19][20][21] This investment round was co-led by Invest-NL, a Dutch impact investment group launched by the Netherlands government, which contributed €15 million with backing from the European Investment Fund.[22] The consortium of investors also included Royal Vopak's Venture Capital arm, Somerset Capital Partners, and existing shareholders EIT InnoEnergy and Enfuro Ventures.[20] The funds are used to accelerate the commercialization of Elestor's hydrogen-based flow battery technology, with a focus on scaling production to the GW level.[23] This technology aims to provide efficient, cost-effective, and scalable solutions for storing renewable energy generated by wind and solar farms.[24] Vopak and Elestor share a joint goal to industrialize electricity storage using flow batteries, and the new investment supports Elestor's growth and its long-term strategy for sustainable energy storage solutions.[25]
References
[edit]- ^ a b Chunduri, Shravan (2023-09-29). "Award-Winning Hydrogen Bromine Flow Battery From Elestor". TaiyangNews - All About Solar Power. Retrieved 2024-10-11.
- ^ "EleStor timeline by IDTechEx". IDTechEx. Retrieved 2024-10-11.
- ^ "Bi-Directional Power Flow: The New World Order and What That Means for the Grid - IEEE Smart Grid". smartgrid.ieee.org. Retrieved 2024-10-11.
- ^ "Elestor".
- ^ "Elestor". Elestor. Retrieved 2024-10-11.
- ^ "20.08.2015 - Community Day of KIC InnoEnergy Benelux". Flickr. Retrieved 2024-10-11.
- ^ Thenu, Simone (2016-10-13). "Elestor granted 'Jan Terlouw Ambition Award 2016' and 'Public Award'". Energy Storage NL. Retrieved 2024-10-11.
- ^ "Elestor winnaar Duurzame Energie Startup-Award 2016". 2016.
- ^ "EIT InnoEnergy start-up, Elestor, receives prestigious award | EIT". eit.europa.eu. Retrieved 2024-10-11.
- ^ "NL Dutch solutions for a hydrogen economy" (PDF). Rijksdienst voor Ondernemend Nederland: 100. October 11, 2024.
- ^ IPKW. "IPKW'er Elestor vijftiende Parel van de regio". IPKW (in Dutch). Retrieved 2024-10-11.
- ^ "Elestor wins audience prize Dutch Chambre of Commerce Innovation Top 100". www.innoenergy.com. Retrieved 2024-10-11.
- ^ "Benelux Enterprise Awards - EU Business News 2024 Official Details - August Recognition Business Awards Entry Writers". www.augustawards.com. Retrieved 2024-10-11.
- ^ "Elestor B.v. (2021 Winner: Benelux Enterprise Awards)". EU Business News. Retrieved 2024-10-11.
- ^ J, Thomas (2022). "Elestor's flow battery electricity storage: The shape of things to come". Innovation news network.
- ^ "INNOVATIVE FLOW BATTERY DEVELOPER ELESTOR WINNER OFFSHORE WIND INNOVATORS JURY AND AUDIENCE AWARD 2022". www.innoenergy.com. 2024-05-14. Retrieved 2024-10-11.
- ^ Willems, Claudia (2023-01-30). "Elestor wint offshore wind innovators award 2022". Energy Storage NL (in Dutch). Retrieved 2024-10-11.
- ^ "Innovative battery developer Elestor winner Offshore Wind Innovators..." Offshore Wind Innovators. Retrieved 2024-10-11.
- ^ "InnoEnergy". www.innoenergy.com. Retrieved 2024-10-11.
- ^ a b "5.12 Electricity storage company, Elestor, secures €30 million in funding from consortium led by Equinor Ventures". Issuu. Retrieved 2024-10-11.
- ^ Tisheva, Plamena (2022). "Hydrogen-bromine flow battery firm Elestor raises EUR 30m, led by Equinor". Renewables now.
- ^ Colthorpe, Andy (2022-09-01). "European energy majors Equinor, Uniper get involved in flow battery investment and pilot project". Energy-Storage.News. Retrieved 2024-10-11.
- ^ "Dutch electricity storage company Elestor bags €30M to boost its hydrogen bromine flow battery technology - Silicon Canals". siliconcanals.com. 2022-08-30. Retrieved 2024-10-11.
- ^ "Equinor Ventures invests in Elestor BV". www.equinor.com. 2022-08-30. Retrieved 2024-10-11.
- ^ "Vopak reports improved EBITDA of EUR 227 million in Q3 2022 and raises its full-year 2022 EBITDA outlook to around EUR 890 million" (PDF). Vopak: 7. 2022.