Ones to watch in: Europe’s battery storage sector
Battery storage is one of the fastest-growing areas in renewable energy. When renewable energy sceptics ask “What happens when the sun stops shining and the wind stops blowing?”, a big part of the answer is batteries.
Growth in the sector is only set to accelerate – the IEA has said that batteries will need to lead a sixfold increase in global energy storage if the world is to meet its 2030 climate and energy targets.
No one is under any illusions that it’s a hard sector to crack. At the time of writing, Swedish battery maker Northvolt has just filed for bankruptcy in the US and is undergoing a major restructuring.
But there will be successful businesses to emerge from the sector. Below are some of the most exciting companies leading the charge in this space.
Powervault designs and manufactures high-quality home and workplace batteries that integrate seamlessly with modern interiors. These batteries store low-cost energy from solar panels and the grid, helping users reduce energy bills while supporting cleaner energy use. Their advanced software, SMARTSTOR™, optimises energy consumption and battery storage in real-time, maximising efficiency and cost savings.
Co-founded a decade ago in London by Joe Warren and Andrew Wordsworth, Powervault has become a leader in sustainable energy solutions. In 2023, it secured £3.8 million from investors focused on climate solutions, including Green Angel Syndicate and its Climate Change Fund. Powervault has also partnered with Octopus Energy, allowing homeowners to trial this cutting-edge technology.
A milestone for Powervault came in November last year when its three-year campaign to grant retrofit batteries VAT exemption was successful. This significant change supports customers who aim to make greener choices.
Powervault’s mission is clear: “We envision a world where it’s effortless for anyone and everyone to lower their bills and use greener energy.”
Voltfang is an exciting German start-up shaking up the green energy scene by giving old EV batteries a new lease on life. Voltfang takes electric vehicle batteries which are no longer useful in cars and turns them into energy storage units for businesses.
It’s a win-win: rather than scrapping the car batteries, Voltfang repurposes them, reducing waste and providing a more affordable way for businesses to store renewable energy.
The company, founded in 2021, has caught the eye of investors. It recently secured €8.8 million in funding, which it is putting towards ramping up storage capacity and refining its technology for managing energy flow efficiently. This is especially useful as businesses are increasingly looking for cost-effective ways to store energy from renewables like solar power.
Voltfang’s storage units help companies become more energy-independent while promoting sustainability in a market that’s hungry for greener solutions.
Field Energy is helping accelerate the rollout of renewable energy infrastructure, starting with large-scale battery storage to store energy for when the country needs it most.
Set up by Amit Gudka, co-founder of Bulb, it already has projects up and running across the UK, including sites in Oldham and Gerrards Cross. It recently bought the 200MW Hartmoor battery storage project on the outskirts of Hartlepool.
The start-up has recently been awarded €150m to expand operations into Spain, with the grant covering 38 projects across the Asturias, Cantabria, Basque Country and Catalonia regions.
With a strong UK-wide footprint, a recent European expansion, and renewable energy expertise at the helm, it’s clear that Field Energy will be one to watch in the renewable infrastructure space.
A prominent player in the UK’s renewable energy storage sector, Statera Energy is investing in a number of innovative projects around the country. From flexible generation and battery storage to pumped hydro and green hydrogen projects, its assets are helping to balance the grid and support the UK’s low-carbon transition.
A number of milestone projects are in development, including the UK’s largest energy storage system and a major - perhaps even “monster” - project to facilitate new hydro initiatives in Loch Ness.
With £7billion of projects planned for deployment by 2030, Statera is providing the flexible capacity needed to balance the future grid whilst lowering carbon emissions and delivering best value for energy users. The business has well and truly established itself as a key driver of the UK’s renewables revolution.
Eelpower has been a pioneer in the batteries sector since the early stages of the industry. It was the first in the UK to construct, own and operate grid scale batteries and is committed to making the residential energy market more flexible.
Its successes range from a £200 million joint venture partnership with NextEnergy Solar Fund to deploying North Scotland’s first 50MW battery in 2023.
Its experience as an industry leader in battery storage is vital in helping the new National Energy System Operator (NESO) take advantage of the UK’s battery storage. It recently signed a letter to the previous ESO highlighting that some battery sites are skipped over during constrained periods 90% of the time.
Its strong track record and commitment to driving industry change marks Eelpower as a company to keep your eye on in years to come.
There are now over 71,000 public electric vehicle charging devices across the UK with each driver trying to maximise the range from each charge.
Now thanks to an innovative company, a new generation of electric car batteries using materials made in Britain could extend the number of miles vehicles can travel after one charge. This week Integrals Power began distributing its Lithium Iron Phosphate (LFP) and Lithium Manganese Iron Phosphate (LMFP) cathode materials to customers across Europe and the US.
Manufactured at its pilot plant in Milton Keynes, these initial samples represent a major milestone in the local production of critical battery materials. Currently, the plant can produce 20 tons of cathode material annually, with plans to expand to 1,000 tons within the next two years.
By 2027, Integrals Power aims to scale from pilot operations to industrial-scale production, supported by £5 million ($6.41 million) from investors and UK government grants and further backed by potential licensing partnerships.
Founder and CEO Behnam Hormozi is actively seeking additional government support—between £40 million and £60 million—to fund a £200-million facility capable of producing 10,000 tons of cathode material per year.
This would establish Integrals Power as a key player in the UK's battery supply chain, positioning it as the nation’s only LFP cathode producer. Integrals Power’s high-performance cathode technology promises to improve battery capacity and longevity, crucial for the future of electric vehicles and energy storage.