Our team has grown substantially following the successful private capital raising. We have recently engaged 8 engineers to prepare our Thermal Energy Storage System (TESS) devices for commissioning and to develop an innovative grid scale energy storage system.
Following interest from large scale property developers, we are planning to offer an 800MWh/50MW product for deployment in energy grids by late 2018.Our engineers are currently evaluating 50MW turbines in collaboration with major manufacturers.
These can also have a major role in maintaining reliable energy supply as renewable generation increases. The grid scale TESS will provide more than eight hours of backup power from each device along with synchronous load following generation from their turbines. They can also burn gas when renewable generation falls so the network is secure, even if transmission is disrupted by storms or other events.
Our experienced technical team will build the first 200MWh storage module during the next 12 months with additional funding from the upcoming Initial Public Offering, most likely in June.
We look forward to building at a scale that will allow more renewable energy generation in power grids.