Energy Storage Systems (ESS), the Oregon-based developer of battery solutions, has closed this week a Series A round of financing, securing $3.2 million in venture capital (VC) funding from Pangaea Ventures for its All-Iron Redox Flow Battery (IFB). The funding is in addition to a further $4.5 million that ESS has secured in development grants for the commercialization of the IFP. Pangaea joins ARPA-e, ONAMI and Oregon Best as identified backers of the product, which has been designed for the long-duration energy storage market, ie, those that require greater than four hours of energy capacity and high numbers of cycles. The IFB can deliver 10,000 cycles with no degradation, and can store between 6 to 12 hours of energy. ESS will use the funding to ramp up production of its 125 kW/1 MWh IFB system in 2016, targeting developed solar markets globally where PV is close to grid parity and thus has a greater demand ...Den vollständigen Artikel lesen ...