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What does Sumitomo Heavy Industries' $46m investment mean for batteries?
Japan's Sumitomo Heavy Industries has invested $46m into a London-based battery start-up that uses liquid air to store energy, in a vote of confidence for a novel battery technology. The machinery manufacturer said it will expand Highview Power's technology for the long-term storage of renewable sources of energy globally.
How does liquid air energy storage work?
“Liquid air energy storage fits into that category.” LAES works by cooling and compressing air into a liquid form that is stored at low pressure in insulated tanks. The liquid air is then blasted through heat exchangers, and the high-pressure gas is used to power turbines to create electricity when needed.
Can lithium ion batteries help the UK achieve net zero?
Lithium-ion batteries can help solve that problem over the course of two to four hours but storage plants, which can hold power for longer and provide a stable supply of energy similar to coal and gas plants, are needed to help the UK achieve its net zero goals.