World’s First CO2 Battery-Powered Energy Storage Plant in Sardinia
Energy Dome has launched CO2 battery-powered storage plant to aid the development of reliable alternatives to fossil fuels for dispatchable baseload electricity worldwide
In the current tumultuous times, it has become highly crucial to swap thermal energy generation powered by oil, coal, or methane with zero-emission, clean renewable energy. However, most renewable power sources stop providing much-needed electricity after the sun goes down or when the wind stops blowing. To that accord, Energy Dome, an Italian long-duration storage developer, has unveiled the world’s first CO2 battery-powered energy storage plant on the Italian island of Sardinia.
With the development of this plant, the company aids to offer reliable and renewable alternatives to fossil fuels. The formation of renewable energy will take place within the network of basic electricity production that can be provided worldwide.
According to the company, the initial operation phase of the plant shows better performance of the new CO2 battery-powered energy plant for long-term electricity storage. Meanwhile, it guarantees highly competitive cyclic efficiency without depending on or degrading any site.
The company also claims that their CO2 batteries are easy to deploy energy anywhere throughout the world for less than half the cost of the similarly-sized lithium-ion battery storage units. The firm will open its completed plant with a total capacity of 20 MW/200 MWh. This commercial project called Commercial Operation Date will roll out by the end of 2023.
The Energy Dome’s renewable energy storage plant is also backed by multiple investors including Novum Capital Partners, 360 Capital, Barclays, and Third Derivative. For financing this commercial-scale deployment, the company plans to arrange the series B fundraising to seek potential investors that understand the vision of this new revolutionary energy storage technology.
The firm also states that they have already made many commercial agreements, particularly with the Italian group A2A and Ansaldo Energia. But for the construction and testing of its full multi-megawatt scale project, the firm needs a skilled team of experts in process engineering, turbo-machinery, and energy production.
The technology will use only CO2, steel, and water. Hence, there is no need to depend on rare earth materials, such as lithium and cobalt. It will make the technology geopolitically independent. So, it can be produced and used everywhere.