EarthEn joins the newly launched Future Energy Storage Studio, a joint program by Ørsted and Newlab
BROOKLYN, N.Y., Oct. 10, 2023 /PRNewswire/ -- US-based long-duration energy storage startup, EarthEn is proud to announce its latest partnership with Ørsted, a leading global clean energy company, and Newlab, a platform for deep tech startups. As a result of this partnership, EarthEn will join Future Energy Storage Studio, a program jointly launched by Ørsted and Newlab along with industry leaders and other innovation partners to scale up novel energy storage solutions for longer-duration and larger-scale applications. The announcement came during Newlab's New Climate Futures event as part of Climate Week NYC.
"EarthEn is committed to scaling up our supercritical carbon dioxide-based energy storage solution to meet the needs of the grid of a scalable, safe, cost-effective, flexible-duration energy storage solution. With existing support from the U.S. Department of Energy and California Energy Commission, and the latest partnership with Ørsted and Newlab that we announced in the New York Climate Week, we have high confidence in successfully meeting our accelerated timeline for the commercialization of our thermo-mechanical energy storage technology" said Manas Pathak, Founder and CEO at EarthEn.
"Long-duration energy storage plays a pivotal role in expanding clean energy while maintaining grid reliability and stability. Ørsted's vision revolves around a world powered entirely by green energy, and we are leveraging our global expertise to accelerate the development of larger-scale, longer-duration energy storage solutions. Collaborating with advanced technology companies like EarthEn and industry leaders is essential to unlock innovations with global potential," stated Stefan Nagel, from Ventures and Open Innovation at Ørsted.
"As novel energy storage transitions from an option to a cornerstone, the key to widespread adoption is rapid and effective commercialization. We are committed to pushing technology boundaries by mobilizing the entire value chain to collaborate on inventive solutions and participate in real-world innovation pilots. With EarthEn's pioneering expertise in thermo-mechanical energy storage, Ørsted's visionary leadership, and Newlab's track record in innovation and technology commercialization, we are well-positioned to lay the foundation for scaling up this unique technology," said Carlos E. Trevino, Vice President at Newlab.
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EarthEn is a US-based, long-duration energy storage startup. It provides thermo-mechanical energy storage based on supercritical CO2 operated in a closed loop that enables flexible heat and electricity discharge on demand in durations ranging from 4 to 100 hours in a safe, reliable, and with small footprint. Learn more at www.earthen.energy
A global clean energy leader, Ørsted develops, constructs, and operates offshore and land-based wind farms, solar farms, energy storage facilities, and bioenergy plants. Ørsted is the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative.
In the United States, the company has approximately 650 employees and a growing portfolio of clean energy assets and partnerships that include offshore wind energy, land-based wind energy, solar, storage technologies, and e-fuels. A leader across the renewable energy sector in the United States, Ørsted holds the top position in offshore wind energy with approximately 5 gigawatts in development and operates America's first offshore wind farm, located off the coast of Block Island. Ørsted has a total U.S. land-based capacity of 5 gigawatts across wind, solar, storage technologies and e-fuels. Learn more about the Ørsted U.S. business at us.Ørsted.com
Newlab creates the conditions for world-changing ideas to become real-world solutions. Through its community of startups, applied innovation programming, physical infrastructure, and direct investment, Newlab helps commercialize and scale the critical technologies needed to decarbonize the economy. Today, Newlab includes more than 900 entrepreneurs, partnerships with forward-thinking corporate and civic entities, and the support of domain experts—all working together to scale frontier technologies. To date, Newlab has supported its 200+ member companies in raising over $2B in capital from 260 venture capital firms, with over $1.5B of successful exits and a collective valuation of over $5B. Learn more about Newlab at www.newlab.com
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