Canada-based Li-ion maker Electrovaya Inc. is the energy storage partner for a utility demonstration project led by CEATI International Inc., headquartered in Montreal. Other partners include major utilities and universities. The total project cost is estimated at approximately $7.5 million.
The project has been conditionally approved for partial funding support from the Government of Canada’s Clean Energy Fund and final contract negotiations are underway.
The large-scale, multi-site, multi-partner initiative will demonstrate the capabilities, versatility and economics of utility-scale electricity storage based on Electrovaya’s modular Lithium Ion SuperPolymer battery technology. The following clean energy challenges will be addressed:
- Electricity storage for intermittent renewable energy generation;
- Electricity storage for high-density urban applications to meet growing new electric loads; and
- Investigation into repurposing electric vehicle batteries for Smart Grid application.
This emerging market holds tremendous opportunity for Electrovaya. According to industry experts, spending on the global energy storage market is expected to exceed $600 billion over the next 10-12 years.—Sankar DasGupta, CEO of Electrovaya